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Sideways

Oil - Possible Sideways RangeFollowing an extreme drop from the 53 level and clear demand in the 43-46 area, along with a weakening DX yet likely rate hikes later this year, ongoing oversupply, yet continued promises form OPEC to meet the agreed upon cuts, I just do not see a catalyst midterm for a break up or down form the current range. 45.62-50.37 is a range created in '09, a swap zone created between harsh supply during the economic crisis and demand following the initiation and strengthening of QE in '09. This range has been somewhat of a median range for the past couple of years as longer term supply/demand is being realized. Anyhoo.... I believe the main meat of the coming range will be roughly the .25-.75 levels of this range. This is not a specific trading plan, just a hypothetical scenario for sideways ranging with supply kicking in around 49 and demand around 47, please see the chart for specifics. Upthrusts towards the top of the overall range near 50.4 would not surprise me. If... this comes to fruition and prices see a couple of full swings int the range, 47-49 offer 200 ticks, and 2 full swings in the range would offer 800 ticks. It's possible that none of this plays out but again, I just do not see a catalyst short term for a larger break up or down. If this range plays out, 4-8 weeks would not surprise me. The stagger marks: if playing multiple positions, a portion are held from supply when shorting for the entire range and a portion for staggering are bought and resold at each line if it offers a pullback and vice versa for demand on the way back up. A simpler stagger method would be to just close half positions at the 48 level in either direction or to just pick your best risk/reward in either the supply or demand zone and trade the entire range. Hopefully this made sense, if not, all questions and comments are welcome. I wil add a couple chart over the next few days to show where the original 45.6-50.36 range was created in '09 as well as a Sept-Nov 2015 range that I think prices are ranging in the upper half of (43.85-49.55; I am specifically looking at the 47.04-49.55 portion of that range) Good trading all!
NYMEX:CL1!
by smitheric1970
18
SPY -long ideaTrend is indeed in favor of SPY -now some may suggest that we need to chart Futures but to be honest it won't make a difference in this case. No point of taking a long position until either 235 is re-tested or 237 for a scalp. I'd wait until 235.22 test though. It could also come down all the way to test upper channel line, slim chance but possible. Although I feel like -if it tests 235.22 it might very well trade sideways for a while. Like always trade accordingly.
AMEX:SPYLong
by viktor89
This is really scary. Long dragged out sideways (up to 1 year)Its that time of the year again when we publish bearish outlooks for the coming year. I was fortunate enough, along with a couple groups I belong to, to sorta get out near the top. Sadly for me and many others tho, we "bought the bottom", you can only catch so many knives. Not down now in btc, but down in USD from potential profit. Now on to the good news. Good news is, were done dumping, if ltcusd fractals plays out we will retest this area in a month or less, and continue along sideways a long time. We could go A LITTLE lower but not much. THe bad news, endless sideways. You wanted a bubble you got one, and now its over. I anticipate a long dragged out INSANE alt seasons in the coming weeks and months. Do you remember the year where NMC, PPC and LTC mooned? Do you remember the last 1.5 years where BTC mooned? Do you remember the alt seasons we had the last year?? Now were going to have some serious alt plays coming up, but when and which coins are "almost" anyones guess. Good luck everyone, Ive learned as well, only shill when you already bought the coins! I always appreciate feedback. This fractal might not play out and may be a correction in a longer uptrend, but then again so was ltcusd right? Oops.
BITSTAMP:BTCUSD
by Noobincrypt
More Before Less Central Bank Stimulus To Run Economies Hot 2017Central banks are (again) helping bulls by keeping the stimulus active until they see higher inflation - according to rumors and speculation of the last three days, ahead of the next ECB meeting this Thursday, October 20, 2016, where Mario Draghi might surprise the market to the upside again, after the reaction to the last meeting was a falling stock market. This could mean that we might get a very boring low volatility sideways choppy trending market in the next months until maybe even the end of January 2017, as shown on the chart. If these trend lines hold, the next move would be up, therefore a long to at least 2150 is the next logical step in this calm market scenario, if the low of October 13, 2016 holds as key support, producing higher lows as result in the days ahead. The upper end of this projected move higher could end at resistance around 2169-2171, which is the 2. long target after 2150. Long entry: 2125-2130 1. Target: 2150 2. Target: 2170 Stop Loss: 2120 1. Reward: 20 points 2. Reward: 40 points Risk: 10 points (from 2130) The news: "Draghi Seen Embracing More Before Less 'QE' as Inflation Edges Up" www.bloomberg.com Seventy-eight percent of the 50 economists surveyed by Bloomberg from October. 7-14 forecast the ECB will announce fresh stimulus, and nine in ten of those say it will happen in December at the earliest. There is a common perception that WSJ reporter Jon Hilsenrath, perhaps one of the most well-connected journalists at the Federal Reserve. Here is his last article for the Wall Street Journal: "Yellen Cites Benefits to Running Economy Hot for Some Time" (by Jon Hilsenrath) www.wsj.com (here a link without a pay wall) www.morningstar.com P.S The "S&P 500" close of Friday, October 14 shows a lot of bullish divergence on the mainstream indicators (RSI, Stochastic, CCI) and the "S&P 500" bounced back from outside the standard deviation as shown by the Bollinger Band. Therefore there is still some chance left for the bulls to turn this sinking ship around during this outlined potential sideways trend.
SP:SPXLong
by ChartArt
1