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Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,059 since Dec 2013
Thanks Given: 4,410
Thanks Received: 10,226
Thanks for the article.
The complete flaw in the piece is that the Shell-BG deal is a Natural Gas deal not an Oil deal.
The deal is much more than a simple bet on higher commodity prices, he said, because it allows Shell to cut costs while also gaining a stronger position in global natural-gas markets, which are expected to grow more quickly than oil.
One does not need to be on the inside to day trade CL. If it's not showing up on your screen while trading, it does not exist. If CL takes out 54 today, i am in BULLISH camp all the way till then no report, analysis etc.. mean much touting Bullish case. It has to cross 54 today with a FORCE that everyone remembers for couple of weeks. In ACD method terms this will be a weekly and daily C up which CL has failed to produce for over 8 months.Tomorrow does not count. I want to see shorts taken out on a stretcher till there are none left. So far, CL get excited for a day or two and then gives up in a hurry.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,059 since Dec 2013
Thanks Given: 4,410
Thanks Received: 10,226
Because for many of the countries that import LNG their only alternative is to import Oil.
As such most of the LNG pricing index's (JCC/ICP etc) are oil price related.
added to shorts 51.04 . Cover some 50.44 and stop loss on rest at 51.02. Every 30- 40 ticks bounce was a dead cat bounce and traders with upper hand loaded up on shorts on every opportunity they got. There were no longs all day worth taking with size. CL has a tendency to bounce some after evey 100 ticks move. Thinking about these bounces as a sign of buyers and getting long is not the way to win at this game.
CL failed to produce a daily and weekly C up as she has failed to do so for over 8 months. CL has not even produced a weekly A up.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Go ahead and start a one with fundamentals rather than splitting this one. By the way my shorts from 53.70 were based on fundamentals. No one holds a trade for 400 ticks just based on technicals. But i sure do love technical trading. If one can explain 10% up move in 2 days and then 6% down move in one day based on fundamentals- i am all ear. I have yet to come across one.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.