Grinding
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Hey Dennis, here's how to chart properly. One last time. One of MANY way to use this tool. And this is good for the bull situation right now, on how to SHORT while using charts. A VERY simple guide.
Doesn't matter what news comes around! What casues the chart to dip and break, using Charts, I could CARE LESS what caused it to jump above the MA, or below the MA!
And PS, the MA is one of MANY tools you can use! There's many methods, and you can sue them together! It's like magic! So NO, to answer your question, charts didn't tell me today's drop pecent, or today's close. But by using charts, If I was shorting, I would had a sell on a stop loss, that profited from the the trigger that led me to buy. I'm done with you.
Oh and RB, I replied to your message to save posts. But yeah she bounced off nice! Didn't set a new low either! As a long right now, this is still bullish!
This is the conversation I had to use to convince my friend not to sell.
regardless, i dont thinkt he inventory report matters right now
except to make people panic and sell to the big dogs
if you're selling, that means someone is buying
who's buying those shares??
the people who know that report didnt matter. and they're saying, "thank you!"
Point is, price is factored in. Sell away. I added to my core. Report didn't even give us a lower bottom.
See??
And even if it breaks that current trend of bottoms, there's one last one to break!
Regardless, we're still bullish, and as a long, I'll only sell if we cant get through the 54-55 bs an ahead towards a triple bottom before reversal.
If I were shorting, using CHARTS, I would have set a STOP on the 50 MA personally, so my order didnt get skipped being at an EVEN number on the support.
And then buy back in, when CHARTS show, the new support is held. All today.
NOT using charts, one would see the NEWS, and SELL, and have NO IDEA on a re entry point.
Charts are a TOOL that help, and they WORK when used right. I understand some people, don't know how to use charts, and don't know what to use them for, and they think they're used to see open prices/ close prices/ priced days ahead/weeks ahead, but they do NOT do that. I have explained what they DO do, and if you DON'T want that advantage, DON'T complain about others utilizing them.
Watch, it's gonna miss your 2.81 number by 1 cent again just to get at you.
Live http://ir.eia.gov/wpsr/wpsrsummary.pdf
Before anyone asks
"we can all agree that true positive moves don't go backwards"
That's something that clay always says(and is true), and I believe he said in his last video.
So here's what yesterdays video would have said, "Well the bulls did it again. Higher lows. Didn't go backwards. Broke through resistances again."
I personally use WTI charts, as UWTI is correlated to it for the most part, and because I don't have platform access here at work, and the free chart/tool from http://www.livecharts.co.uk/MarketCharts/crude.php doesn't offer UWTI. But. 54-55 dollar range wti is the resistance right now.
So today we will see if "we can all agree that true positive moves don't go backwards" holds true again.
He literally replied to your message where YOU said that. -.-
Wasting my time
We're about to break the high for the year in WTI
Yes sir it is. Aka Won't happen.
Trying to scare people out. Can't have everybody getting rich.
Testing the 200 MA
What does the news tell you it will be at a week from now? You don't need to know a week ahead to be successful in the market.
You just need a glimpse of what's going on, so you get an idea of where to set stops, what your entry and exit point should be, etc.
You obviously don't know how to use charts, so of course you want understand them. It's like trying to explain what being high is like, to someone who's never been high.
You're just not going to get it, and realize what you can benefit from charts, until you try them yourself.
I'm never wasting one of my 15 posts replying to you again. No point in an argument with someone who doesn't know both sides of the argument.
They showed bullish signs.... Yes. Scroll through all the posts dating back. Look at all my charts. All anyone's charts. Watch clay traders vids if you want to see the the whole history without scrolling through too much. You can get a basic idea. I'm sure your news and emails from the Saudis told you more than charts told me.
*EDIT INSIDE AT BOTTOM TO SAVE MESSAGES OF THE DAY*
Repeat of yesterday, Charts show the minute 50 MA is STRONG support for this bullish run. This top chart is 4 of the times the 50 MA held support, and look today, basically identically.
Up, sideways, hits 50 MA, back up, sideways, hits 50 MA, back up.
This is yesterday.
This is today, look familiar? I'm hoping the 50 MA stays support all day today as well!
*EDIT*
She's still doing it. Lets keep it up. up to $54!
Wouldn't surprise me if we hit the 55 resistance today or tomorrow.
incoming UWTI missile part 2 for today.
Sold half my 401k (bought in at 1.945) yesterday 2 hours before close for 2.81, as I figured it would drop before close. Never did. Bought back in immediately this morning for 2.71. Got lucky imo. Not risking that again. Wasn't worth the scare for getting 200 extra shares added to my core.
Hey you! 51.85! What did I tell you would happen if you didn't let my girl UWTI in? She knocked nicely! I said don't make her come back to the MA 50... I warned you. We're gonna have to storm through your door now, no knocking. No more being polite! Here we come! Let me just take of the dollar here real quick, then on to you.
Or even if countires continue moving away from the petro dollar, causing all that US currency over there that we printed for them, essentially debt free to us, to come right and cause some hyperflation!
Dollar causing the 100 MA to be tested. Trying to scare some people out. They don't want to make it TOO easy. But it IS. Don't miss you chance to hold long!
Dollar going crazy. Dead cat bounce doe.
Can't wait for those drinks you're buying for everyone. You and Rb both.
True story here. You're on point with the story telling today.
My target to add to my core on thursday was 2.31 and it hit 2.32
I regret not buying lol, back in at 2.61.
Still have all my original core, but came across more money Friday i wanted to add, not sure if you remember. Sigh. F$ck ittt.
Totally meant to send this reply to RB
2.65 way too low for the day.
Come sail away, come sail away, come sail away with meeee
Oh no. That's terrible! I hope this doesn't shoot up too fast, I don't want too much reverse decay. :(
Dollar gonna hit a 95 handle today?
Goes to show how much of a non factor crude storage is.
I just want to see the DXY hit 95 by Monday. The end.
I was just trying to help you flip better, never trying to tell you to hold long. You said you had a 2.30 stop loss, and it wasn't until after the point, did you say you upped it to 2.44. I just wanted you to realize you could have a higher chart based stop-loss, instead of a random 2.30 stop loss based on someones opinion where they stated, "I see this going to 2.20 today" which is the message you replied to when you said "In case you're right, I'm setting a 2.30 stop loss".
Regardless.
I came to reply to this message to agree about the day without stocks being like a day without coffee/cigs part.
Gonna be a long day. And a longer weekend.
Gonna be one long weekend
Hate doing stuff during market hours but meeting with a realtor in a house I might be buying so gonna check here for updates. Cancelled my buy order for now. Good luck to all.
Makes sense. But an agreement that includes them not adding to the oil market would be good for oil, and israel/saudi being pissed about the deal, adds even for fuel for bull oil. But we'll see.
that 40 % tax hurtssss. F U SAM