ryan-snk

ryan-snk Updated 

Buy and Sell points for short term pops and dips. 50 and 200 EMA as guide.

ryan-snk Updated 

BUY SIGNAL: Daily close above trend line should work nicely.

ryan-snk

Oil prices are coiling up for a move which will eventually head towards to the mid $60s for the following reasons: - Bankruptcies - DXY destruction - Demand bottoming - Chaos in the Middle East at some point Pit stops along the way are marked by the fib extension from the first impulsive move - 0.5 and 0.618 being the most significant. The simplest strategy is to...

ryan-snk Updated 

Gold played out exactly as planned and squeezed up to the 0.618 Fib Extension around $2,070 taking out all the short sellers with little to no resistance. Although I am still long GLD, GDX, SLV, I've closed out my Futures positions for $2,154.50 profit and will wait for a better swing trade setup (entries/exits linked below). Setups: 1. Continue squeezing up...

ryan-snk Updated 

Commodities are rallying today as the Dollar index loses value and right on cue, oil has hit my target at $43 (the 50 week EMA) and could pullback soon. I've closed my positions for a $1,237.50 gain (entry/exit linked below) and am looking to buy dips moving forward. I believe oil is heading higher by the end of the year and the fib extensions should help map...

ryan-snk Updated 

Natural Gas just had a monster rally and I'm going to ride it back down for a short term trade. $2.14 has historically been a sticking point so I've opened a short position here on the E-mini contract ($QGU2020). -1 @ $2.145

ryan-snk Updated 

Winter contracts for Natural Gas are already trading near the pivotal $3.00 level. If Winter this year turns out to be average prices will likely sell off towards $2.50 (the 200 Day EMA). However, if production continues to fall and Winter is cold enough, prices can break above $3.00 and complete the parabolic move that is forming. If the latter happens, I see...

ryan-snk

While Bitcoin didn't quite make it down to the level I was watching (linked below), it is shooting up to $12,134 right on schedule. This indicates even more bullish price action and could be signaling further upside. Especially if seller's at this level get squeezed out. Some consolidation first below this level would be ideal. There is not only a breakout out...

ryan-snk Updated 

Crude Oil sold off today at first however, traders decisively bid the price back up above the 200 day EMA. Note: The light blue 50 EMA on this 4hr chart is equivalent to the 200 day EMA This bullish price action tells me that the 200 day EMA is now the launch pad for traders to take this to the next level up. Most likely that would be the 50 week EMA around...

ryan-snk

Last month I mapped out the DXY chart using the macro fib extensions. Today, the index fast approaching the next fib level at 91.77 and at the moment of typing, is finding support at 93.20, a previously supportive level. DXY is heavily influencing Gold right now and because a dead cat bounce is likely, I've closed my Gold futures position and trimmed my position...

ryan-snk Updated 

On June 3rd I posted my strategy for trading Natural Gas this coming Winter (linked below). As prices slowly drift lower, it looks like traders are beginning to accumulate long positions. I've opened a long position on the December(Z) E-mini contract and might add 1 or 2 more over the next couple months with the sell target up around $3.30ish. Will see how it...

ryan-snk Updated 

Traders are done selling for now and will be looking to test the $2 level next in anticipation of August heating demand. A bullish pennant is forming and should break out after price clears above the 50 day EMA. Moving forward, buying the dip is the play as we head towards Winter. Opened a long position on the September(U) contract @ $1.795

ryan-snk Updated 

Over the last few months the macro fib extensions have been the most accurate road map to the trend in Gold price. I took advantage of the move between the 32.8% and 50% levels for a $1,500 profit using E-Micro Futures and I believe the run on Gold is just getting started. (Previous trades linked below) The price of Gold has been marching up with every...

ryan-snk

The price of Silver is set to make a run and like Gold, the macro fib extension is the road map. The log scale weekly chart is a great way to illustrate just how far it could get. Looks to me if price can break out to all time highs, traders would target $88 and possibly $135.

ryan-snk Updated 

Natural Gas prices got hammered this past week. There's too much supply and not enough demand however, prices are near the bottom of the trading range and Summer heat should give prices a boost soon. It's also worth mentioning that the Dollar DXY is trending lower and which is bullish for all commodities. Prices are breaking out of a downtrend so I've opened a...

ryan-snk Updated 

There's too much noise. Covid lockdowns, vaccine hopes, China trade retaliation, etc. Technicals: There was a break out of the wedge that most traders have drawn out however, I think it's more likely price breaks back down in order to build momentum for the next move higher. Ideally, there could be some good buying opportunities around the 200 EMA on the 4hr...

ryan-snk Updated 

Hot weather will likely boost Natural Gas prices in the near term so I opened a long position after price broke above $1.80 again. $QG - E-mini Natural Gas Futures +1 @ $1.815 Sell Limit -1 @ $1.94 Additionally, the MACD is showing bullish momentum on the 4hr chart and prices are being supported by the 50 and 200 EMA. If price clears $1.83 I see the momentum...

ryan-snk Updated 

Now that Gold is breaking out, all focus goes to the 4hr chart. I'm trading E-micro Gold futures ($/MGC), 2 contracts at a time. Strategy is to hold 1/2 position all the way up to $1,880 target. Day/Swing trade 1/2 position on the way up. I'll update my markers where I buy and sell moving forward. Links below show where I started building position. Stay Black.