Lot of interest in moving WTI higher (March 2, 2019)
Haven't been posting much but will try to more for my personal records as well as to contribute to other's trading journey.
Currently in a short from Friday morning. In profit but a late trade I shouldn't have taken. Took it because we were at the end of the value area of the volume profile, but took it later than I should've. Looking to enter long sometime around daily candle close on Monday, but have alerts set in case it moves quicker. (Alerts are so very helpful if you have a life outside of trading)
Commenting on WTI/USOIL
USOIL
news and possible drivers, I think this AND
UKOIL
are going to trade higher and continue their up-trends due to political reasons from OIL rich countries and OPEC stories. Supply and demand are driving it's price and while supply keeps shrinking, price will keep rising.
But enough of the fundies ... This instrument seems to respect volume profile quite well, as far as I can tell. There is a newly formed HVN just above price with almost 2xs the buying. This tells me there is a good chance price will get sucked back up and not retrace as far as I initially expected.
Currently in a short from Friday morning. In profit but a late trade I shouldn't have taken. Took it because we were at the end of the value area of the volume profile, but took it later than I should've. Looking to enter long sometime around daily candle close on Monday, but have alerts set in case it moves quicker. (Alerts are so very helpful if you have a life outside of trading)
Commenting on WTI/USOIL
USOIL
news and possible drivers, I think this AND
UKOIL
are going to trade higher and continue their up-trends due to political reasons from OIL rich countries and OPEC stories. Supply and demand are driving it's price and while supply keeps shrinking, price will keep rising. But enough of the fundies ... This instrument seems to respect volume profile quite well, as far as I can tell. There is a newly formed HVN just above price with almost 2xs the buying. This tells me there is a good chance price will get sucked back up and not retrace as far as I initially expected.