Many thanks for your help and advise Roger, DiNapoli is becoming a bit clearer now. And thanks for sharing your trading signals... you've turned a marginal trader into a more successful one. Looking forward to further signals.
After the massive drop, pricing in the oil market is not sustainable. On the monthly we have COP support near the lows around 26.00. This area stands as good to zone to long the market. If you are conservative you can wait for a wash and rinse before you buy the market.
Looking our daily resistance levels; We have good confluence around 40-42 and gap will be closed on that area as well. So this should be the place to take profit.
Apologize for not being active in the forum last few days. I was busy with day trading as these are the times that we can make serious money in the markets. Volatility is very high but D levels work perfectly on higher timeframe charts. I will post some of the trades that i have taken this week for educational purposes only. Hope that helps.
Below is a B&B buy trade on gbp/usd 4hr timeframe. My order got filled at 1.3031.
Market showed good initial reaction on the support zone but later we got stop grabber sell signal at 1hr timeframe. Then i moved my stop to breakeven as the markets are too fast these days.Once the stop grabber sell signal played out the support zone broken. As you know B&B trades are one of our most high probability setups and this is a good example of how to not take a loss by managing the trade on lower timeframes.
ETH; We are fading daily sell against weekly and monthly buy. Our context is still valid.
And on the daily; 180-185 area is the line on the sand for our long setup. We could also get out when we had stop grabber sell on the daily but i wanted to give some room as weekly and monthly trend changes were far... So if the market turns up from this zone we will keep the trade otherwise we will take a loss.
On bitcoin; We are also fading daily sell against weekly and monthly buy but we lost our context so we will be looking to get out on the retracements...
Monthly; We lost the uptrend
Weekly; Unconfirmed downtrend
And the daily; If the market breaks the latest controlling OP support. This will be bearish as monthly, weekly and daily will be in a downtrend without any major support on the way.
great Work so far, I'm very impressed. Are you familiar with the Trend Push Concept (STP) and could you explain it a bit if possible? I heard thats a newer DiNapoli Strategie and it is supposed to be quite good
Oh and maybe I have something for you. Plot a yearly WTI Chart and you see that Quarterly got faded at the 71.24 OP last year (you prolly know that) and there is a yearly LPO at 22 !!
This might be a perfect level to buy if it really gets reached.