ALERT: Our "Trade Triangle™" technology signaled an exit all long crude oil postions today at 66.23 basis the July contract.
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41 thoughts on “ALERT: We exited all long crude oil positions today”
Thank you for your feedback. I looked at that also and made a video on when oil reaches $80 a barrel how it will affect the US economy. The US has no control over oil in the world. We literally are at the mercy of the Middle East and tin pot dictators down Venezuela.
If you'd like to watch the movie, here's the link. The video was made sometime ago.
All the best,
I was just looking at july oil weekly bar and did a fib retrace from the 147 high and it seems given the obvious manipulation factor all the way to 147 and the rug getting jerked out from under everyone's feet, would or could it mean you can disregard the technicals in this market?
the 38.2% retrace comes in at around 77ish. that is a good bit higher than where it closed friday, almost 10 points difference.
Forex and precious metals are realtime everything else is exchanged delayed. We are working on realtime for equities as I type this.
Futures: use weekly for trend daily triangles for entry and exit points.
FOREX: same as above
All the best,
Sorry, will try this again...not sure it posted.
First, are the charts 1 min./5 min. etc in REAL time or DELAYED?
Second, When entering Futures positions Long..go with a green daily or green daily and weekly? and the Monthly fits in best how?
Third...futres in grains versus currencies...use same per above?
When looking at 1 min/5min etc charts is this in REAL time or DELAYED? ALSO,
I'm a brand new subscriber....when entering futures positions...SO I understand....enter on "daily GREEN" or daily and Weekly GREEN?...exit the same on red?..Monthly fits in best?
In futures and forex we use the WEEKLY triangles for trend and the daily triangles for new entry and exit points.
What can happen is that you enter on a WEEKLY green triangle initially and then use the daily Triangles to manage the position.
I hope this answers your question.
Please feel free to contact our support staff if you have any other questions.
Just noticed you got out of crude today. I too exited my USO contracts today. Nice run. I'm in mostly cash for the weekend. Got out of all gold at EOD also. I want to watch for a few days.
Thanks for all you do,
Hi Adam , i'm thinking of signing up I'm based in the Uk do you have UK stocks or FTSE index in your charts to follow or make a portfolio from?
thanks in advance
MarketClub covers a lot of ground and markets but at the moment we do not cover the markets in the UK.
All the best,
It appears that the crude contract gave a green daily trade triangle today. Does this mean you will go long crude tommorrow?
PS - I have really enjoyed the upgrades of the charting service. Likewise, I use the alert features quite a bit. I am a technical analysis guy and I use MC to confirm what I see in the Point and Figure chart as well as what I see in the other technical indicators I follow.
You asked if I'm still happy with our exit. Yes, of course. I found over time is much better to take signals rather than ignore them.
Having lived in the Geneva Switzerland for many years I liked to say I fly the Swiss flag of neutrality when it comes to the markets. What that means is I like to be as neutral as possible and not have any strong feelings one way or another regarding the markets.
I have seen in the past that many folks get married to position thinking that the trend can never change. That is a recipe for disaster in my opinion.The one thing the markets are famous for is of course change.
We will of course be reentering this market should we get a signal to do so. That would be a daily green triangle. When that happens we will go long again.
All the best,
Just signed up recently and I am new to the Blog and the alerts. I see you closed oil and gold positions as did I. (I must be learning) Is there a page which shows your current open positions?
Welcome good to have you aboard. To answer your question, no we do not have a position page but it's quite easy to figure out positions based on trade triangle technology.
If you just joining us you may enjoy this video that will help you get the most out of MarketClub.
All the best,
Are you still happy with your exited? Has anything changed with your strategy now that the market moves against your call? Thanks for your input and GL. -troy
you closed the longs on oil at 66.23,but its at 68.54 now.how come the fast exit.thanks lyall
Thank you for your feedback and comment. We exited the our position because we had a signal to do so based on our trade triangle technology. That doesn't mean to say it's right or wrong, it just means we had an exit signal, and we follow signals.
All the best to you.
I would love to see you do one of your informative videos on how to set stops. As a new member I got bumped out badly yesterday in the giant whip saw in Canadian resource stocks.
great stuff, thanks
I do not see the exit trade triangle on the July crude oil chart CL.N09 chart. Am I missing something???
It shows up on the daily charts in the 1month,3month and 1year views. It does not show up on the intra-day charts.
Please check again and make sure you are not looking at an intra-day chart. If you have any further problems don't hesitate to contact our help desk. The number is 800-538-7424 or [email protected].
Please look at the electronic crude contract. The symbol is CL.N09.E. If you are a MarketClub member you can directly access the chart by clicking on this link: http://club.ino.com/members/charts/?s=NYMEX_CL.N09.E.
If you still have issues seeing the signals, give our help team a call and they will walk you through it.
Director of New Business Development
INO.com & MarketClub
Question: Are the trade triangles generated on different days for regular crude versus electronic crude contract because of the data.
Wonder if the daily triangles have shown any signals for XAUAUD? That is following the sell signal for XAUUSD yesterday.
When I said 24 triangles I was implying 12 entry and 12 exit signals, just as you made clear.
That's an average of 4 trades per month (2 entries and 2 exits) on gold!
Sounds a little excessive / erratic but I'll send an email to the address you provided to see if there's something I'm missing about these signals. Either way, thanks for the response!
Thanks for you comments and question.
It is a very interesting question and one that needs to be answered.
Yes I am still bearish on the dollar index.
And yes we exited out of our long positions in Gold and Crude oil on Wednesday the 3rd of June.
As for inflation, yes, I see that coming ... I can't guarantee what day it will arrive just as I can't guarantee what the market is going to do in the next 24 hours. What I can guarantee is that the markets will continue to trade and that is how I come up with my final answer.
Yes, I believe we are going to have a tough time of it with the economy in the future. In the mean time I am not going to give up and ignore our Trade Triangle signals when they kick in. I may have to buy gold and crude oil higher I don't know. What I do know is that should we see a green daily Triangle that is lined up with a green weekly Triangle you will see me buying.
Brad, I hope this answer is enough and clears up any confusion that may be out there.
All the best,
Okay...I got one for you Adam. I recommend you to my readers all the time, so help me with this. You are selling all Gold and Oil positions, yet we just got a new video on how we should be looking for the Greenback to go to 74 or 72.
I am confused because you re-affirmed in the video that inflation is a result of the weak Dollar. So, I'd love to know what you think. Is the Dollar going to keep correcting or is it Gold and Oils's turns as they have been on huge runs of their own...
I have been waiting for this oil pull back as I missed a lot of the current up leg.
To relieve the social stress of this summer, I hope oil and gas prices continue to drift down into Sept.
After that, probably oil and gold up, U$dollar down.
Put away some food and resources during this pullback.
Good luck, campers.
My comment/question never got posted but I'll try again.
Do you really enter and exit a position with each one of these ubiquitous daily triangles?
Using these daily triangles, one would have gotten in and out of the gold market 24 times so far this year (yes, I counted all the little triangles). The only person making any money with this kind of frenetic system would be you broker.
Am I missing something?
Thank you for your feedback and question.
The key to all our Trade Triangle technology is that we filter our trades. For example if you counted 24 triangles this year for gold we only took signals on twelve of them. The other signals were like todays exit signals.
Please do not just take every red and green triangle as an automatic buy and sell signal. If you are not filtering your trades you are missing the whole concept and methodology behind our work.
Give our support team a call at 880-538-7424 or drop us a line at [email protected]. They will be happy to explain in more detail how we filter out bad trades.
When trading with the trend using the trade the triangles approach have you ever examined the impact of scaling out once signaled by the daily triangle? The remaining position could be removed once the weekly traingle changes colour. This might have the effect or remaining in the trade (at least partially) why also protecting some capitat. Just a thought.
One thing that you may want to do is look at some of the longer time frames. For example if you were to use the monthly, weekly and daily triangles in futures you would obviously naturally scale in, and scale out of a position. Let me give you an example, let's say you are trading with three units. You would trade all three time frames, meaning that when the triangles were all in accord, i.e. all green or all red you would have three units on. If the daily triangle were to go red in an uptrend then you have two units on and so on and so forth.
The beauty of this approach is that when a market is in a strong trending mode you have all three units on and are able to take advantage of the trend. When the markets become more choppy you may actually be down to only one position. It's an automatic money management system that improves your opportunities for making money when the big markets arrive.
All the best and thank you for your feedback.
I'm just curious and trying to see if I understand how this method works. What's the point of the monthly and weekly triangles if you will get completely in and out of each position just by using the daily triangles?
Using these daily triangles, one would have gotten in and out of the gold market 24 times YTD (yes, I counted all the little triangles). That's a great way to enrich your broker!
Am I missing something?
Thanks for your help!
Thanks for your answer in the previous post. I am not long gold now but was looking to buy it on this pullback... I was hoping for $940-$950 or so.
I respect your opinion since you really have nailed these things in the past. Thanks for your posts!
I prefer to watch the market for the next day or two. The action on Wednesday was negative based on our Trade Triangles. Let's give the market some room watching from the sidelines and see what comes up via our Trade Triangles.
Does this portends a market downturn as well?
I am assuming you are referring to the US equity market. If I am correct and it is the US equity markets then suggest wainting for a signal on our Trade Triangles before pushing the short side.
You guys are doing a great Job Adam.
These alerts are based on the daily triangles, right?
You are right on the money. The daily triangle it is.
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