The Trader’s Guide to “Michael Jordan” Level Dominance in the Marketplace

This Is The Real Deal! Dear Trader, Welcome to November! This is a good time to check your monthly charts to make sure that you close out the year strong. 2020 has been a volatile year for the markets so far. I hope you were able to capitalize on the volatility and use it to your advantage. If you missed out, this is your chance to take advantage of the market volatility and make some huge profits before the end of the year. In this issue of the Big Energy Profits newsletter we’ll dive into:  - The Trader’s Guide to “Michael Jordan” Level Dominance in the Marketplace - The Real Secret to Profitable Trading - The True Impact of Uncertain Demand on the Oil Market Please enjoy, and have a blessed week! --------------------------------------------------------------- 9 Qualities of a Good Day Trader Quality #9: Having a Support Network As a day trader, you are the sole CEO. Everything goes through you. You call the shots. You make the trades. You take on the risk. It’s only you, right? Wrong! While you are responsible for your growth, you will still need guidance and support. That means it’s okay to get some help once in a while. Everybody could use a sidekick. Michael Jordan may be the G.O.A.T, but he wouldn’t have won championships without Pippen and Rodman. That’s why having a support network is vital to your trading success. [Click here to discover why having a strong network is so critical for trading success… as well as some tips for how to build or join a support network that helps you become a better trader!]( --------------------------------------------------------------- Crude News Governments around the free world tried to stop the spread of the virus by telling their citizens to wear masks, practice social distancing, avoid crowded areas and to test frequently.  While these “requests” were being followed, oil traders began to bet on a steady demand recovery.  With cases rising around the world and threatening the global demand recovery, bullish speculators had no choice but to liquidate their long positions.  There is uncertainty over when demand will return, and when traders see uncertainty, they sell their positions and move to cash or other protective assets.  Some even shorted the market. So is the market out of control?  Not really.  The selling has been orderly and there are sound reasons behind it. But since it looks as if the pandemic will get worse before it gets better, no one really has control over demand.  So the only choice is to work on the supply.  That could mean lowering production in the United States, OPEC+ telling Libya to lighten up on production, or OPEC and its allies including Russia postponing plans to raise their output by 2 million bpd in January. Saudi Arabia and Russia are in favor of maintaining the group’s output reduction of about 7.7 million bpd currently into next year.  If they start to push this agenda then prices may stabilize. Technically, what this means is investors will be looking for value on this break.  No one is in the mood at this time to chase the market higher.  Even if there was a quick turnaround in the market, it would likely be fueled by short-covering, which means the move will likely be met with a fresh round of shorting pressure. [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]( --------------------------------------------------------------- The Real Secret to Profitable Trading in the Markets Most people think that trading stocks is all about picking winners. But they’re wrong...  Becoming a self-sufficient trader has less to do with the stocks you trade and more to do with how you trade them.  Don’t get me wrong. Trading the right stocks is important. But picking the right stocks is just one piece of the puzzle.  The real secret to trading stocks and consistently earning a profit is to set a trading plan and then stick to that plan.  If you have the right trading plan, you can predictably profit from the market every single month.  For example, the Rule of 72 can work as a powerful trading strategy that can double your trading profits every 36 trading days.  The process may seem slow at first, but the profits will be huge if you just stick to the plan.  [Click Here to Uncover the Secrets Behind the Rule of 72 and Double Your Trading Profits This Mont]( --------------------------------------------------------------- Weekly Market Analysis The main trend is bearish according to the weekly swing chart.  The trend turned bearish on Thursday when sellers took out the last swing bottom at $36.93.  It would take a trade through $41.90 to change the main trend to bullish. The main trading range is $59.51 to $25.31.  Its retracement zone at $42.41 to $46.45 proved to be solid resistance, stopping the rally at $44.33 the week-ending August 28. The short-term range is $25.31 to $44.33.  Its retracement zone at $34.82 to $32.58 is the primary downside target.  We should find out over the near-term if buyers also view this area as a value zone.  Trader reaction to this zone should determine the near-term direction of the market. Based on last week’s price action, the direction of the December WTI crude oil market the week-ending November 6 will most likely be determined by trader reaction to the short-term 50% level at $34.82. Anthony Speciale Jr. Hawkeye Traders Team1@hawkeyetraders.com hawkeyetraders.com Call us: (888) 233-8598 --------------------------------------------------------------- If you do not wish to receive any further emails from Hawkeye Traders please click the Unsubscribe link at the bottom of this email. DISCLAIMER: * Futures, stocks, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, stocks, and forex markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, stocks or forex. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. Past performance of indicators or methodology are not necessarily indicative of future results. CFTC Regulation 4.41 These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. 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