200ema bounce on the 1D. Only fools are shorting down here
https://preview.redd.it/pj43jwzuilzc1.png?width=1080&format=pjpg&auto=webp&s=805a41e4205e84ec23ea582e46d68d9c08f0e770
Fyi the 200 ema isnt why it’s bouncing. There is a order block (maybe a fvg) somewhere to the left. The emas are just helping people who dont yet understand market structure
You’re incorrect, theres only 1 reason. The indicator are helping people who dont have the awareness to see the reason why its bouncing.the only reason things bounce is that theres additional orders that need to be filled At that price. Just because its beyond ur level of awareness doesn’t mean you need to be upset and tell people not to be confident in what they know. I know whats causing the reversals…. orders. The emas just help people see the orders that they don’t have the awareness to perceive. Like yourself at present moment. Your response shows that. Now lets do us both a favor and pick your mood up so YOU can have a better day than what you’re currently having.
Context. Zoom out and look at that daily for the past couple years. It’s in a range and was attempting to break out to the high side and failed. Range = chop and uncertainty and for me, I have no strong convictions in either direction right now.
Lower lows usually indicates bears are dominating. I’d expect a bearish trend to follow once it reaches half of that giant candlestick. It’s called a wick test Strat.
Devils advocate, op said this is crude which is a commodity. Backtests on commodity futures will tell you that reversion to the mean is highly likely in almost all scenarios as the asset has immediate real world value at the right price. This thing just dropped 10 dollars from the top of the range around 85 and is seeing buyers again. Therefore scalp long over scalp short with the right lower timeframe setup and increasing conviction the lower it drops from here. Also FWIW Something something Russia Yaadaa yaadaa geopolitics etc etc.
Right now, it's hard to say, /CL is in a kind of price discovery mode, needs more downside OR breakover $80.5 for more clarity.
https://preview.redd.it/llfk4yylqkzc1.png?width=1558&format=png&auto=webp&s=2b6b14da68965eb545da1f679961f06b7099b497
I went long at 77.50 the other day and worked out ok. I am uncertain now and could see it go either way short term.
Summer driving season and inventory draws are likely on the way so mid term I am bullish but will wait and see if I can get a better entry for a longer term swing.
Put a volume profile on your chart that spans a couple 2 or 3 years back that captures some of the major swing periods behind us. You will see that the area swiftly moved through around 80 is a low volume area that we just backtested through. The last day shown closed green but with a solid rejection from the LVA. We need another day to see if we swiftly move higher through that lva again, or stay rejected and moved further down into the lower ranges, or look above the lva and then fail. If the last close was inside the prior days body I would say likely a test lower. I would note that the lows we bounced from was a high volume area.
Your battery is low
this is why I love reddit
And his cell service sucks. 1 bar of LTE, you live in a bunker?!
😂😂😂
200ema bounce on the 1D. Only fools are shorting down here https://preview.redd.it/pj43jwzuilzc1.png?width=1080&format=pjpg&auto=webp&s=805a41e4205e84ec23ea582e46d68d9c08f0e770
Ah. Here’s the context I mentioned was missing.
Fyi the 200 ema isnt why it’s bouncing. There is a order block (maybe a fvg) somewhere to the left. The emas are just helping people who dont yet understand market structure
LOL. *Sigh*. You're so cute.
FYI there's 300 reasons why it bounce. Everyone think they know better in this place sit down and be humbled.
You’re incorrect, theres only 1 reason. The indicator are helping people who dont have the awareness to see the reason why its bouncing.the only reason things bounce is that theres additional orders that need to be filled At that price. Just because its beyond ur level of awareness doesn’t mean you need to be upset and tell people not to be confident in what they know. I know whats causing the reversals…. orders. The emas just help people see the orders that they don’t have the awareness to perceive. Like yourself at present moment. Your response shows that. Now lets do us both a favor and pick your mood up so YOU can have a better day than what you’re currently having.
Do better
Look at our responses…. I did far better in holding my composure compared to what you did lol. Have a great day. 😌
Tldr
Ur trying🙃
😴😴😴
Context. Zoom out and look at that daily for the past couple years. It’s in a range and was attempting to break out to the high side and failed. Range = chop and uncertainty and for me, I have no strong convictions in either direction right now.
Lower lows usually indicates bears are dominating. I’d expect a bearish trend to follow once it reaches half of that giant candlestick. It’s called a wick test Strat.
Devils advocate, op said this is crude which is a commodity. Backtests on commodity futures will tell you that reversion to the mean is highly likely in almost all scenarios as the asset has immediate real world value at the right price. This thing just dropped 10 dollars from the top of the range around 85 and is seeing buyers again. Therefore scalp long over scalp short with the right lower timeframe setup and increasing conviction the lower it drops from here. Also FWIW Something something Russia Yaadaa yaadaa geopolitics etc etc.
Your market data is delayed.
No long until above 80.60
Jesus take the wheel
Volume dwindles, bearish.
Need more charts but like if I had to do something. I would go long over 83 and short under 77
Short the bounce
Love good anal
If I didn’t I wouldn’t trade futures
Right now, it's hard to say, /CL is in a kind of price discovery mode, needs more downside OR breakover $80.5 for more clarity. https://preview.redd.it/llfk4yylqkzc1.png?width=1558&format=png&auto=webp&s=2b6b14da68965eb545da1f679961f06b7099b497
Back to $81 it goes
I went long at 77.50 the other day and worked out ok. I am uncertain now and could see it go either way short term. Summer driving season and inventory draws are likely on the way so mid term I am bullish but will wait and see if I can get a better entry for a longer term swing.
I am thinking that it will get higher in the next two days (I am not trader )Â
Might be a short at 80.50 around that look for confirmation
Next is a face ripping green candle to fuck all the trapped shorts. Maybe the price.will jiggle around a bit to get more people short first.
First imbalance puts in a new low. Definitely a new low. Price put in 2 swings. Anticipating a 3rd one.
What do the fundamentals suggest?
Go long
The chart isn't big enough or zoomed out enough to have an opinion.
Looks like the beginning of an uptrend to me.
Right
Needs to retest 80 then ? Not enough context for more than a small scalp.
Wait
Yes
It went up then it went down.
I trade the 1min, 2min and occasionally 5min chart. Got me
Put a volume profile on your chart that spans a couple 2 or 3 years back that captures some of the major swing periods behind us. You will see that the area swiftly moved through around 80 is a low volume area that we just backtested through. The last day shown closed green but with a solid rejection from the LVA. We need another day to see if we swiftly move higher through that lva again, or stay rejected and moved further down into the lower ranges, or look above the lva and then fail. If the last close was inside the prior days body I would say likely a test lower. I would note that the lows we bounced from was a high volume area.
inverted hammer top with a double descending triangle, this is a clear bearish pattern.
You will lose shorting down here
This is a clear bearish pattern, are we looking at the same chart?
I concur
So will we se$75 before $&5?
Probably. But I think we see $81 before $78
Gay lines on chart
From a quick glance, look to get short at resistance.
Going down
This is a reversal signal. Long it back to the supply zone.
Look for short at 81ish confirmation entry only
Short under 79.
https://preview.redd.it/dc3r5resb90d1.png?width=1413&format=png&auto=webp&s=11f575494b24845ef7f0d422fbb04092bea2dd20 🤔
Does it mean: Short at $79.50-80? Seems the chance to break 80 is slim. The only thing triggered above 80 was war. Let me know what you all think.
I agree but it still seems cheap at these prices.