A Fruitful Week....
There are a lot of Guru's that make calls in the markets wouldn't you agree? I don't think there is a week that goes by that some fund is calling to pile on more to their positions.
I showed you my own hand. I did so for a reason that the calls are made before the market moves. Always. I do not call in hindsight and I show you my positions. It is really simple.
You know that I have been holding gold, oil and up until last week the USD/YEN short. Conversely I have been telling you that the Dollar had peaked out and to look for the EUR/USD, EUR/YEN and GBP to rally. Well that is what they have been doing.
These themes continued into the week with oil racing down from the 47 level to peg my level almost to a tee at the 43.39 level. Pretty close before rallying strongly back to the 46 level. That big four dollar move cleared a lot of stops and here is the article that showed what happened to one of the largest oil funds in the business.
http://www.zerohedge.com/news/2017-05-05/one-worlds-biggest-oil-hedge-funds-just-liquidated-all-its-longs
You can clearly see the path of stop acceleration at that point. Oil may stay at around the 47 level or slightly higher for a bit. I think the major money has been made and I am not looking to do much more from this level after liquidating part of my position easily making up for the small stop out I took at first entry.
It looks as if price was simply following my lines. I mean you can go back and cross reference them in the past but I have been saying this for a while now. That is if you read this blog. From here Oil may push higher. It is still a crowded trade folks but probably a lot lighter than it was.
I showed you my own hand. I did so for a reason that the calls are made before the market moves. Always. I do not call in hindsight and I show you my positions. It is really simple.
You know that I have been holding gold, oil and up until last week the USD/YEN short. Conversely I have been telling you that the Dollar had peaked out and to look for the EUR/USD, EUR/YEN and GBP to rally. Well that is what they have been doing.
These themes continued into the week with oil racing down from the 47 level to peg my level almost to a tee at the 43.39 level. Pretty close before rallying strongly back to the 46 level. That big four dollar move cleared a lot of stops and here is the article that showed what happened to one of the largest oil funds in the business.
http://www.zerohedge.com/news/2017-05-05/one-worlds-biggest-oil-hedge-funds-just-liquidated-all-its-longs
You can clearly see the path of stop acceleration at that point. Oil may stay at around the 47 level or slightly higher for a bit. I think the major money has been made and I am not looking to do much more from this level after liquidating part of my position easily making up for the small stop out I took at first entry.
It looks as if price was simply following my lines. I mean you can go back and cross reference them in the past but I have been saying this for a while now. That is if you read this blog. From here Oil may push higher. It is still a crowded trade folks but probably a lot lighter than it was.
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