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Shortoil

Sines of upcoming waves.. new swell coming. I don't publish much anymore, but since a cycle is due, this is my play for this upcoming cycle.. 80% of my profits have been trading on sine & time cycle dates, using fibs levels and channels to predict and confirm directional change in trend. Using the cycle dates, which show dwn till June 22nd, up til 30th :dwn till July 10th. Will cover shorts on any channel break up or post #EIA. I'm thinking this #EIA could give us season low around 42.57 fib. followed by seasonal high sub 50. Anyway is all here.. Sine wave History oil Good luck
FX:USOILShort
by BigEz
6
Short on USOIL WTI CrudeAfter taking a look at the daily and weekly charts for Crude Oil, I decided to take a small short position, risking 0.50% of my portfolio on it mainly because I am not familiar with crude oil, nor have I traded it before, so I want to tread lightly into uncharted waters. There isn't much of a long analysis on crude oil, this one is purely price action. It fell below crucial support levels on both the daily and weekly charts so I decided to enter on the lows. As always, shoot holes into my thesis. If you see something different in the price action, let me know! All the best, RC
TVC:USOILShort
by BrandonBeylo
2
Last wave before low tide - Oil's 2016 highs are behind us.Been a while since updating, all looks good on Sine timeline.... Still on track for low on/about Jan20th. Purple is the wave short pattern. SineTC says price will be at significant low, and below the wave starting point at end of Timecycle. Depending on wave duration, most price drops are over 20% from staring point. The cycles are not the Red/Green visible sine wave, the Cycle is the timeline difference between the apex of the two waves. Each wave is at different frequency. Thus you have waves at different length, from a few days to few months. Direction of wave (up/down) has no barring on this study. The wave is used as a timeline, and the offset is the length of cycle. I expect we will run up (20th) Monday morning US on opening.. I expect this run will hold below 53.25 on the 1hr, but regardless of price I plan to short as soon as I have confirmation Monday afternoon or Tuesday AM. For now our target is 40 by Jan 20th. We are currently short oil. See linked for more info. Trade safe.. make money!
TVC:USOILShort
by BigEz
9
Oil hates uncertainty1 month ago today, OPEC unofficially decided that they would cut production by 32.5-33m br/day. That announcement sent oil into gains frenzy skyrocketing it to almost $52/barrel. That unofficial statement was not enough to make oil break the resistance and reach the expected price of $60/barrel. Now during the OPEC and non-OPEC members meeting in Vienna in Friday and Saturday things took a very different turn than hoped. Starting with the OPEC meeting on Friday, the members failed to come to a conclusion and cut production with the biggest opposer being Iraq. Saturday, leaks hint towards a non-conclusive meeting as well. This leads me to expect further movement south for oil over the next weekend. TP for me is $47. Still, I think no production cut could mean that oil tumbles more and thus I will be trading oil over the next month until their next meeting ONLY if it manages to break below the $47-46.8 area with relatively high volume and if indicators favour a short play.
TVC:USOILShort
by BigCharts
2
Summer is over.. But the gas tank is still full. This trade Idea is a transfer of our open short from prior published idea. Summer is over so it's time to track our action on our daily chart. The old charts remain available but get too busy with notes. Our transferred short was entered over the last two months at an average of $47.10. Its clear that this summers consumption has done little to reduce available oil. The US is importing oil at record amounts... Not to use, but to store. Storage and pipeline services are booming. There are massive physical hedges going on oil, this requires longterm capital. Not something to store oil in just out behind the barn. This storage needs utilization for years... Not just a few quarters. Our target still remains WTI @ 38 by the end of the year. We have now seen oil leave the only active up channel.. I had not expected it to drop outside of the latest micro channel (after drop to 45.5). I do not anticipate a newer, steeper micro channel to form... but will watch for it. More likely it will increase in volatility until the (no change) opec meeting is over on 27th. Until then lots of opportunities for day traders as long as they go with Trend & Fundamentals. Out swing-trade timeline lets us go outside .. But we will add to our shorts on spikes when they warrant. For now we are holding short.
FX:USOILShort
by BigEz
Falling Stars and Rhino CatchersI had hoped to take a few days to get back into the water... But looks like we need to jump on this big Bombora.... It could play out for a while. Funny how these things form. We need to get a pretty good run from the first drop in. Bros with Rhinos will soon join the crew. We are going short with a stack of bones. Let's just hope we avoid a rail bang... I see stars... Falling stars in the chart. We are going Short now, picking up stacks with each cut. Be safe bros.
FX:USOILShort
by BigEz
1
No Lifeguard on DutyI love to wake up on Mondays to find I'm better off than Friday. This has been a feeling I have gotten use to this year. I just afraid I'm getting addicted to low oil. What will I do when we hit $20?? Sure the other side the trade will offer some help once oil reaches its low (around $17bbl I'm predicting). But then what... Oil will not have the upside in the near or near distant future. As I have said for months, unless the King of Saudi dies or we get a new petro War, we will see no change in direction.... oil is being manually manipulated by Saudi. Old School... Fibonacci be dammed.. Just follow the trend line. The micro, the 6 month, the year trend.... Your pick, all forecast oils decline. Storm flags this week, no lifeguard on duty... Big boards only. Paddlepuss be warned. I remain very short for the long ride..
FX:USOILShort
by BigEz
2
Oil at $40 a barrel is real prospect. Target at least $51It is clear the world needs cheaper oil prices not only does this put pressure on those middle eastern countries that were using oil proceeds to fund terrorism but this sends a clear message to the Eastern powers that the world will not stand by idly while foreign nations invade each other to benefit from commodity prices. Commodities are still priced in US Dollars. The technicals are reflecting with Oil clearly in a 5th wave move in the bearish cycle. The 61.8 Fib extension of impulse i and iii says we could see oil at $51 a barrel. If we consider a full 100 fib extension we could be looking at $40 a barrel. Just take a look at the volume coming in and the weak bullish candle....
NYMEX:CL2!Short
by GreedyTrader