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Nice chart, the oil bulls have not let oil drop below this level since Dec 2018.

image.thumb.png.3b4a4905f87a08b8849e650c1223a7ab.png

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3 minutes ago, cryptotrader said:

solid support - i'd be a cautious buyer. 

yes, bulls trying to put in a reversal candle at the monthly chart support level (purple).

image.thumb.png.5d1aab2431cff77d681a8e34d3f7cd50.png

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18 minutes ago, cryptotrader said:

solid support - i'd be a cautious buyer. 

Wait for a few days until you've got the benefit of hindsight first

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86% of IG client accounts with open positions in this market expect the price to rise

 

Therefore you should be bearish right

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17 minutes ago, dmedin said:

Wait for a few days until you've got the benefit of hindsight first

Why?

 

11 minutes ago, dmedin said:

86% of IG client accounts with open positions in this market expect the price to rise

 

Therefore you should be bearish right

Why?

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9 minutes ago, dmedin said:

🤔👺

indicators don't work all the time .

the key to a reversal trade is that it becomes obvious real quick if you are wrong so the stop is small but the potential gain is big, 25% win rate will do.

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3 hours ago, dmedin said:

Wait for a few days until you've got the benefit of hindsight first

😂😂😂

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2 hours ago, shaistaattiya said:

hi i am very new just sign up my account and never did any trading before i wants t know where from i should start 

 

Welcome to the community. 

As @Caseynotes mentioned, I would start with the Academy. If you have an idea of what you want to trade (forex, indices e.c.t.) I can provide some help videos/ guides. 

You can also find some great trading ideas around the forums on community. 

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No end in sight to the drop in oil prices ... commodities across the board are sinking in value.

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4 minutes ago, dmedin said:

No end in sight to the drop in oil prices ... commodities across the board are sinking in value.

US oil still up on the day though has lost a lot of early gains on the US open.

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22 hours ago, dmedin said:

Wait for a few days until you've got the benefit of hindsight first

:D:D

what I meant by this was

  • small position with an appropriate relatively close stop - no need for a guarantee stop unless going into the weekend.
  • buy further OTM call options with a longer expiry date - maybe April which expire mid March.
  • close any short position you have... or at least reduce the short and pull that stop right in

 

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5 minutes ago, 247trader said:

interesting thanks casey.

you're welcome, I should have included a chart, here's the weekly, still trying to hang onto key support.

image.thumb.png.a859fb6b06219c6a170a28a40d9ecad7.png

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guessing that there are attempts to keep price in this range

Capture us oil.PNG

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8 minutes ago, elle said:

guessing that there are attempts to keep price in this range

very probably and hoping for OPEC to step in and cut sooner rather than later.

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4 minutes ago, Caseynotes said:

very probably and hoping for OPEC to step in and cut sooner rather than later.

Cora tip of iceberg ,WHO, done own estimates numbers to balloon yet, wauting for this to drop like a stone

13 minutes ago, elle said:

guessing that there are attempts to keep price in this range

Capture us oil.PNG

 

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Can't add to the recently restarted US OIL thread now so start anew again. 

"Oil has been showing some signs of "hope" over past 24 hours. Given the fact oil and Chinese CSI 300 move in tandem, maybe the oil bounce could turn violent to the upside."

 

image.png.b56f675f5657d0c85bbf3006834be037.png

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25 minutes ago, CharlotteIG said:

image.png

Piece by Chris: Full article here

 

True ...

And when the vast majority of IG clients are long isn't that a 'contrarian indicator' according to DailyFX ...

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29 minutes ago, dmedin said:

 

True ...

And when the vast majority of IG clients are long isn't that a 'contrarian indicator' according to DailyFX ...

if you're looking for certainty in any indicator you'll be looking forever.

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Reversal on news of inventories being more than twice estimated levels. (For some reason the inventory estimates are almost always wildly inaccurate.)

That price movement up could be a flag.

503223466_Oil-USCrude_20200212_16_01.thumb.png.3a045a8e21466f7b3e7eb9c7b15b4e6d.png

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"US field production of crude oil, past 90 years (monthly) for fun, see if you can spot when hydraulic fracturing became a thing.

+140% in the past 10 years"

𝘽𝙄𝙇𝙇 𝙎𝙒𝙀𝙀𝙏 @billsweet

image.thumb.png.59916cff207cb5adb8398628b5a40cf6.png

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