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.
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.
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.
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.
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
#tflow looking into $wti…now currently at support, but looking towards strong support at $48. see it come true…fingers cross — TerraSeeds FX Tflow® (@terraseeds) December 15, 2014
Revised to even lower WTI support to $47 on 5 Jan 2015
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?
bulk of $wti out at 46.30 kept a little for next level. planning a little reentry else I’m done with $wti. Hope you make $. Onto next trade — TerraSeeds FX Tflow® (@terraseeds) January 13, 2015
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
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.