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Wtiusd

2 BTC to 20 BTC Trading Challenge - Day 31 (0.3718 BTC)Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business. Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge Over the past week or two I have not seen any setups that interest me. I am wanting to get this challenge back on track and my hands were tied while there were not any desirable entries. Doing this challenge publicly makes me feel anxious to get back into positions but I know that becoming impatient is the last thing I can afford to do right now. To ensure that is not happening I have been significantly decreasing exposure and trying my best to wait for the best possible setups. Once I see a setup that I really like then I am waiting an extra day before entering and then I am preferring to use stop entries to make sure market is moving in my favor. Trading can be a fickle bitch and it is very much a game of: what have you done lately? It is one thing to not be results oriented while trading, but if taken too far that can clout judgement and cause delusional beliefs in one's ability. I try my best to always remain objective and that requires constantly examining / learning from my mistakes. There were certainly some significant mistakes that were made over this past month that I am paying close attention to. January Worst Dressed Trade USDTRY I got overconfident and overexposed myself before the trade moved in my favor. I love starting small to test the market and make sure that it is heading in my favor, then only adding once I have increased confidence in the trend. In this case I started with closer to 50% of my desired position size than 5%. On one hand I do not want to be results oriented, because this did have a very high probability of success and when trading hyperwaves buying a pullback to phase 3 is the best entry. 85% of hyperwaves in phase 3 go onto complete the cycle. On the other hand this one was a bit funky and I firmly believe it was a mistake to enter the position size that I did that early on in the game. The large majority of my losses over the past month have come from being bullish the dollar and bearish the stock market. I am tentatively starting to turn bearish the USD and I am staying tf away from the stock market until I understand more what is going on there. Gold, Silver and Palladium are very, very interesting right now. I am expecting a 1 - 4 week pullback from here and will be hoping to find high probability long entries during that time. Open Positions Short XRPUSD Exposure: 1,000 XRP / 0.081 BTC Price: $0.30791 Stop: $0.27784 Risk: 9.76% Short USDJPY Exposure: 0.04 lots / 1.1782 BTC Price: $108.79 Stop: $110.056 Risk: 1.06% Pending Orders (1) LTCH19 stop buy entered on 1/30 Exposure: 27 LTC / 0.24867 BTC Price: 0.00921 Stop: 0.00824 Risk: 10.53% (2) Stop order to long WTIUSD entered on 1/31 Exposure: 0.12 lots / 0.195 BTC Price: $55.26 Stop: $51.39 Risk: 7% Watchtower XAU Notes: Weekly green 9. Bear div in daily RSI, as well as ADX, while price tests major resistance. Massive resistance from $1,305 to $1,355. If breakthrough $1,355 then retesting ATH’s seems very likely. If not then this could pullback sharply to the $1,200 area. Pumping to $1,350 and then forming a c&h would be ideal. Gameplan: Watching for 1-4 week correction after the 9, thinking it could form c&h. Weekly close > $1,355 is my signal to fully enter. XAG Alerts: Symmetrical Triangle Notes: Testing cluster or resistance from horizontals & TL’s. On weekly green 9. Daily RSI bear div. Gameplan: Watching for 1-4 week correction after the 9, thinking it could form Big W. Throwback to TL is another ideal entry. ETHBTC Patterns: Looks like 5 waves + ABC correction Notes: Watching 3D Consensio + Stochastic. Love seeing spike and then retrace to bullish L MA. BTC market cap dominance at crucial area, could be forming descending triangle. Watching W S MA & bearish D L MA. Weekly golden cross at support. Target: 0.065 if break triangle to upside Gameplan: Watch D M MA + 2.5 week bear TL. Should be plenty of resistance from 0.032 - 0.034 to provide favorable entry.
OANDA:WTICOUSDLong
by Sawcruhteez
2
WTI Road Map The last analysis gave us a practically perfect target with big profits and a life saver for an early mistake. Now we have enough information to create a guide map for the following months. The way in which the price interacts with the "Key Zone" will be essential to maintain the validity of this analysis. If so, we could be touching at the beginning of March the cluster of 60. We must keep an eye on the news and geopolitical movements that may influence the development of this analysis. Best wishes to all.
OANDA:WTICOUSD
by normstock
WTI $ could be in for more short-term suffering b4 NEW HIGHS!Large bearish Descending Triangle in WTI. This means we could easily test bottom again, which ultimately could mean another gut punch for Alberta. Corb Lund and the 'Hurtin Albertans' indeed! If you read up on the descending triangle formation, it tells us it is a bearish pattern and most often a continuation pattern, however, it also can represent a reversal pattern, which clearly it does in the case of WTI, since it began from the peak price point in 2008. I believe this descending triangle will eventually break to the upside once it resolves and will eventually lead to crude oil prices at new all time highs. The formation requires two tags of the base line and two on top which have completed this month. Essentially we are not required to move back to the mid 30's range again for this to resolve, but i'd be cautious going long crude in any big (long-term) way until either we break that upper line or see a pull back to the 50 month MA (or go really deep for one more tag of the base line). Remember this is a long-term analysis (month chart) and we may not see a break out until 2020 or later.
OANDA:WTICOUSD
by faronf
1