I have been bearish on Crude Oil for weeks. And when my subscribers kept asking me about my opinion on crude I kept replying that Crude has a very bearish setup and it was going to start the strongest part of the decline, subwave C of 3. This is when accelerated art of decline starts and price tanks without any sufficient pullbacks. That is why my subscribers were not surprised by a sharp drop in crude oil prices yesterday. You can read several updates I sent to my subscribers in July 2019.
Update posted on 7-17-2019 - "Crude Oil - starting a strong drop"
I have been bearish on Crude for several months because I believe we should get a drop to a new lower low to complete the Five Wave Down fractal. To complete the final wave ( c ) of ( 5 ) down we should get the final drop under the low seen in Feb’2016.
Update posted on 7-16-2019 - "Crude - really nothing to add to my bearish count"
Two days ago I posted a long explanation why I am bearish on Crude oil long term.
Since then despite all the news about tankers, Iran and drones… crude oil continued moving lower. That is why I do not watch news or read newspapers. Because all that information will not help you to make money in the market. It’s just noise. And the more irrelevant information you consume the less efficient trader you become. Because you dump it on your brain in hope it will process it and will be able to make better trading decisions. Believe me, you only make things worse. They call it paralysis by analysis. You should teach your brain to recognize technical high probability patterns and let it focus on execution based on that one method. You can pick any other trading method. Then learn it and over learn it to make it run by your brain fast and effortlessly. Every time you feel like you make effort to make a decision that is a good indication you are not ready for a trading game. You either see a setup at a quick glance or you are not prepared for a big game! If you struggle start from decreasing size of your trade. Trade smaller and consider trading an educating process. Stop trying to make money. Try to apply what you learn again and again. Soon enough you will start trading bigger lots and will see gradual improvement.
Update posted on 8-1-2019 - "Crude - I keep posting my bearish count"
I warned that we were about to start the strongest part of the decline, subwave ( c ) of wave ( iii ) down. The minimum extension for that subwave ( c ) of ( iii ) is 123.6% ext of wave ( a ) of ( iii ) which is 44.80. I do not want to buy anything related to crude oil.