The craziest prediction in Oil (WTI) came true

Nobody would believe this prediction

Someone told me this in a seminar “If ever anybody said that #WTI will trade sub 60 region (below $60) 2 months ago, those fund managers and bankers will shoot you down”

Well, I’m shot! I said it.

 

At times when no one would imagine WTI trading below $60, I did. I’m crazy. But hey, I did that with #tflow analysis, not just guesswork.

Now when WTI is around $55, everybody starts giving out prediction, some said $40, some said $30, some even said $25.

May I remind, in yr 2008, WTI traded highest around $148. At that time, many analysts came out to said that Oil could go to $190 (you know who). And may I tell you, from that point onwards, Oil crashed to low of $36.

Let’s keep our mind clear, let’s stick to fact. I think that we are seeing some strong support of WTI towards $48 and $43-46.

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WTI long term trend line

Well, if you are amaze that I actually predicted and TRADED on WTI and kept insisting that it’s a short, nothing to be amazed. It’s just logical, step by step analysis that I always teach and apply in Tflow®. The best is to join me in Tflow® course.

Read a recap on my trades in WTI here.

Let’s go through WTI now…ho ho ho Merry Christmas.

If you look at this tweet below, $58.50 was a historical support. This is also the reason why I predicted WTI would reach $58.50.

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Historical support $58.50

 Now this support of $58.50 broke, and it turned into a resistance. Price retraced back now and touched this resistance of $58.50. Trend is still down, with a 1234 forming.

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Price retraced back to $58.50 as a resistance once this previous support broke

With the volatility in WTI expected when price drops near to major support, expect volatility to come in. Therefore, any continuation to sell must be very careful. I would be looking at more retracement to sell towards marked resistance above chart.  

Other than a more careful entry, my next prediction in WTI is $48

 

 

Revised to even lower WTI support to $47 on 5 Jan 2015

 

 

$47 reached, while I was training in an afternoon 4M class

However, at the same time, I’ve revised that number to $46.20 in class

 

In a Forex Seminar on 10 Jan 2015 Sat, I told participants to see the number $46.20 hit

I’m happy that you like this ride. There are ups and downs, definitely, but at least we are together. Even if one day, you did not believe me, then let me. Communication is very important. As I always said in class, if you love someone, say it out everyday (I said that to my children everyday) .

What’s next for WTI?

What have we learnt?

1. Big pattern

2. Strong level

3. If sell, take care of your resistance, and not to predict how low it can go. Low can just go lower and lowest

How I have been guiding the short on $WTI from $78 till $46

How I have been guiding the short on $WTI from $78 till $46

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Crazy WTI trade shorted from $90plus till $46.20

What’s the latest development in WTI?

I have taken bulk of my holdings in WTI at around $46.30. It’s good money. Even reshorted more when price retraced to $49 after hitting $47 for the first time.

If you look at chart below, WTI is on the verge of closely below this very important trend line. If this is successful close, then it’s not hard to imagine a support of $34-35 to come in.

So at the moment, the target profit of my remaining lots have been left to EMPTY, and this is a super free trade.

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WTI trendline in monthly chart

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WTI trendline

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