Dear Trader,
Happy Monday! I hope everyone is well rested from the weekend and ready for another week in the markets. Today is a new day of a new week. Set your goals high and implement your plans to achieve those goals! Talk is cheap, but disciplined and consistent action is priceless. In this issue of the Big Energy Profits newsletter we'll dive into: - The One Trait that Separates Profitable Retail Traders from the Losers
- The Delicate Balance in the Oil Markets Right Now
- What Every Trader Can Do to Maximize Profits Regardless of Who Wins the Election
Please enjoy, and have a blessed week! | | | | 9 Qualities of a Good Trader Quality #2: Discipline Imagine going for a run in the mountains. As you're jogging up the roadside, you make eye contact with a mountain lion, only 12 yards between you. It senses your sudden caution and already sees you as prey to be hunted down. Here are your choices: You can panic, turn your back, and flee immediately and risk trying to outrun a mountain lion. Or… You can stay calm, focus on the lion, and continue to take small careful steps backward as you look for weapons to defend yourself and/or ways to escape from the threat. It takes some discipline, but keeping a cool head and sticking with the plan - taking it one step at a time - is a matter of survival. So as a trader, how disciplined are you going to be to not only ensure you survive in the markets, but actually thrive? Click here to discover why discipline is one of the most important traits of any successful day trader… as well as some tips for being more disciplined in your trading and life! | | | | Crude News
Price continuing to hover around the mid-point of its six-month trading range suggests the market is balanced. The news seems to be balanced also with reports of possible lower demand being offset somewhat by the OPEC+ production cuts. The news also seems to be centered on the same theme: The right moves were made early to prevent a disaster in the global economy, but if governments can't gain control of the pandemic, we're all in for a second round of trouble. We could be looking at a sideways range over the near-term as traders continue to weigh the impact of lower demand against the production cuts. But eventually, something will have to give. Either we gain control of the virus and thus demand, or inventory issues will put pressure on prices. 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! | | | | Weekly Analysis
The main trend is bullish according to the weekly swing chart. However, momentum is trending lower. A trade through the mid $44.00 price area would signal a resumption of the bullish uptrend. A move through the $25.00 price area changes the main trend to down.
The minor trend is bearish. This is controlling the momentum. The minor top is the $42.00 price area. Taking out this level would then change the minor trend to bullish and shift momentum to the upside. Based on the price action the past two weeks, the direction of the December WTI crude oil market next week is likely to be determined by trader reaction to the minor pivot at the mid $40.00 price area. | | | | 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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