Dear Trader,
Over the course of my trading career, I've learned that you can usually tell how profitable a trade is likely to be based on the set up. I've always had the theory that it's better to over-qualify than under-qualify a trade set up. At the end of the day, I'd rather take less trades that have a higher probability of being profitable… Than more trades that aren't as well qualified and have a higher potential to lose money. Now that's trading! In this issue of the Big Energy Profits newsletter we'll dive into: - The Key to Making Consistent Progress on Your Trader's Journey
- The Real Reason Oil Prices Slipped on Thursday
- What Every Trader Should Know to Take Advantage of Wall Street
Please enjoy, and have a safe and relaxing weekend! | | | | 9 Qualities of a Good Trader Quality #2: Decisiveness Have you ever made a decision that completely changed your life? It happens all the time in TV and cinema. Everybody loves a good story with a compelling character arc. If you've seen Breaking Bad, the character arc of Walter White pulls you in right from the start. How does an ordinary high school teacher who is battling cancer become a meth kingpin… And take on the Mexican Cartel? It's the turning point that has to move the story along. And that turning point usually starts with a decision that has to be made. Walter White does not become Heisenberg without deciding to sell meth. Breaking Bad wouldn't be as dramatic and gripping if Walter just decided to move to Canada with his family for free healthcare. So... what decision have you made to move your story as a trader along? Click here to discover why decisiveness is one of the most important traits of any successful day trader… as well as some tips for being more decisive in your trading and in your life! | | | | Crude News Oil prices slipped on Thursday as new restrictions to stem a surge in COVID-19 infections increased uncertainty over the outlook for economic growth and a recovery in fuel demand. But prices bounced off their lows after better-than-expected inventory data. Traders noted the price decline was limited by industry data showing a fall in U.S. oil inventories last week. The U.S. Energy Information Administration said Thursday that inventory declined by 3.818 million barrels in the prior week, larger than the 1.9 million barrel draw analysts had been expecting. The American Petroleum Institute industry group on Wednesday said U.S. crude, gasoline and distillate inventories all fell in the week to Oct. 9. Some European countries are reviving curfews and lockdowns to try to contain the rise in new coronavirus cases, with Britain expected to impose tougher COVID-19 restrictions on London from midnight on Friday. OPEC and its allies, together called OPEC+, are due to taper production cuts by 2 million BPD, from 7.7 million BPD currently, in January.
OPEC+ had 102% compliance with its agreement to cut oil supply in September. The group will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November, OPEC's Secretary General said, adding that demand has been recovering more slowly than expected. Want to learn how you can get access to my members-only daily, weekly and monthly energy sector analyses, trade ideas and managed trade alerts? Click right here to view a free training video! | | | | How to Manipulate Wall Street
Wall Street is all about one thing: supply & demand. Simple, isn't it? When you "get" that… it's easy to see how you can manipulate the system to deliver consistent "base hit" wins. $10,700 here... $4,200 over there… And occasionally huge "home run" trades worth $158,600 or more! This is an incredibly effective system if you use it right. Give yourself an unfair advantage and check it out by clicking right here. | | | | Monthly Analysis
Upside, a daily settlement above the $42.00 price area would likely indicate the 46.00 price area within several weeks. The 46.00 price area would be the beginning of a range of long-term resistance up towards the mid 49.00 price area which is likely and able to contain buying pressure well into next year's trading.
Downside, the 42.00 price area can likely contain buying pressure throughout the remainder of October. Below the mid 32.00 price area remains a several week downside objective that's likely and able to contain selling through the balance of this year, and a meaningful downside continuation point over the same time horizon.
Yearly Cycle Analysis
- The 10 year cycle makes a major high on October 6th and then heads sideways down into October 19th then rallies strongly.
- The 20 year cycle rallies sharply into October 14th then sells off into November.
- The 30 year cycle makes a low on the October 2nd before rallying into a major high 9th to 11th of October then sells off sharply into October 23rd before rallying into the end of the month.
| | | | Anthony Speciale Jr Editor & Chief Investment Strategist, Big Energy Profits
Hawkeye Traders
team1@hawkeyetraders.com
hawkeyetraders.com
Call us: (888) 233-8598
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