Very bearish and very oversold!
Weekly:
- firm bearish Ichimoku.
- Bearish momentum increased this week in Heikin-Ashi
- Price is reaching POSSIBLE bottom of trend channel and a wedge. Wedge only valid if lower line holds. Fetting Oversold!
- Maybe in next few weeks we can see some slowdown in selling
Anyway, if it goes at this nominal pace, by Febr/2016 WTI Oil will be free for everybody! Hurray! Please also consider, that since last Muppet eeeee I mean OPEC Meeting all news are bearish! There are only Bears in Oil market! You remember what has just happened to EURUSD right? Get ready for more volatility.
Daily:
- Not much to add, it is a falling knife.
- For sure the correction will be at least as agressive as this selloff, due to lack of liquidity and probably increased short positions.
- Price drop too sharp, far below Kumo and Kijun, EWO also shows it is getting a bit stretched!
Note:
I was trying to catch few times a bottom intraday. Even if just in small, but I lost money on 4 out of 5 trades! Conclusion: don't try to guess the market, not even intraday, not even in small! Until you see a clear counter trend signal, the "looks like" opportunities can cause at least a serious menthal harm, if not a financial drawdown. :-)
When u fck yourself mentally with early bottom fishing and multiple stops, it will be a lot harder to buy in again, when the proper signal is there: human nature, your mind will second guess due to hidden fear and negative feedback loops.
- firm bearish Ichimoku.
- Bearish momentum increased this week in Heikin-Ashi
- Price is reaching POSSIBLE bottom of trend channel and a wedge. Wedge only valid if lower line holds. Fetting Oversold!
- Maybe in next few weeks we can see some slowdown in selling
Anyway, if it goes at this nominal pace, by Febr/2016 WTI Oil will be free for everybody! Hurray! Please also consider, that since last Muppet eeeee I mean OPEC Meeting all news are bearish! There are only Bears in Oil market! You remember what has just happened to EURUSD right? Get ready for more volatility.
Daily:
- Not much to add, it is a falling knife.
- For sure the correction will be at least as agressive as this selloff, due to lack of liquidity and probably increased short positions.
- Price drop too sharp, far below Kumo and Kijun, EWO also shows it is getting a bit stretched!
Note:
I was trying to catch few times a bottom intraday. Even if just in small, but I lost money on 4 out of 5 trades! Conclusion: don't try to guess the market, not even intraday, not even in small! Until you see a clear counter trend signal, the "looks like" opportunities can cause at least a serious menthal harm, if not a financial drawdown. :-)
When u fck yourself mentally with early bottom fishing and multiple stops, it will be a lot harder to buy in again, when the proper signal is there: human nature, your mind will second guess due to hidden fear and negative feedback loops.
