now
Took some time today to get back into my technical analysis . I personally feel oil 0.02% has about 3-7 days left of a bullish swing for 2-4%, however it will re-cycle and fall*. IMHO oil 0.02% has become a game of small movements, in and out, unfortunately it took me a while to see what I am seeing. There was a time not that far back that the swings allowed the trader to hold and pick up a few points on weak hands washing out. I think as of today its a matter of capitalizing on micro movements for smaller gains. I once read invest to win and that stops are a silent killer. Although that may be true, those fundamentals don't work for every scenario or trader. I think the patterns have become fast and furious and the old idea of holding and patience have gotten a lot of traders, I am one. The more I looked at oil 0.02% over the last several quarters, I have to believe that the sum of the movements is what is causing the big picture. I have held oil 0.02% ETF's for weeks and even months in the past and made consistent 10%-15% gains, but the landscape doesn't support that ideology, just look at the chart for 2016 and first half of 2017, then compare it to the second half of 2017. I know that I don't know much and every time I do technical analysis and my supporting research I learn something new or see something I didn't see or acknowledge correctly. It is a constant learning process.
*I mention time, but put no stock in it (no pun intended), the reality is time is relevant but a futile pursuit. Also if my hypothesis on the landscape of oil 0.02% trading it shouldn't be a significant factor (within reason).
Best Wishes,
George
Disclaimer: My ideas, charts, analysis, etc are opinions, educated but opinions nonetheless, and not to be taken as accurate or exact. Due diligence and being proactive are by far the foundational tools for being a successful trader.