WTI (Crude) 10/17/2019 daily doji lesson

17 באוק׳ 2019

Im looking at the oil chart and I am seeing some decent gains today. There is a lot going on in the middle east so many different factors could be the reason for the rise. I am really more impressed with how well the speed fan is working. I used to use the speed fan much more than I do now. I still think they are great but many times when I have multiple indicators on the chart it makes it too noisy. So The fan was an unwanted sacrifice I had to make. I try to put em on the chart still when it looks like they belong there and this oil chart is a perfect example of how speed fans are great tools. The speed fan is a part of the fibonacci family. I am still in awe at the way fibonacci tools work so well. There are numerous I still dont know how to use. But traditional fibs and trend based fibs and speed fans are among the most used in my TA. If you look at this chart is is so clear the fan is providing support. From August 9th to September 16th we rode the .5 fib (on the fan) and then the Saudi attack happened and TA went out the window. When the dust finally settled we were lower at the .382 fib (on the fan). We have been riding that fan for 11 days now. I just like to point out when tools work this well. WTFDIK right?