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-   -   Trading Crude Oil with price action + indicator (https://www.forexfactory.com/showthread.php?t=433042)

ItsAtrap Sep 23, 2016 3:51pm | Post# 901

{quote} How long it is? 3 months? i think it will be long before we can hit that price though.
I reckon by end of year or so. In the end , I only made a profit on half of this long position. The other half got stopped at break-even earlier today. About to post a chart of that. Will still look to buy lower, if I see the price action that triggers a buy on my system. When I do, I will try to post here as soon as possible.

ItsAtrap Sep 23, 2016 4:09pm | Post# 902

1 Attachment(s)
Well here's all my long trade managed to make me. A lousy buck and some cents. I entered on the 21st, on the break of the highs of 20 September. Yesterday, a partial take-profit was triggered at 47.42 and stops on the rest of the position were moved to break-even. I was hoping for a further run north, but instead today the price reversed and took out my stops. Oh well.

The only position I carry over this weekend is my EUR/GBP longs.
Click to Enlarge

Name: 23Sep16 -Crude ending daily.jpg
Size: 302 KB

kweiss10 Sep 23, 2016 4:28pm | Post# 903

Well here's all my long trade managed to make me. A lousy buck and some cents. I entered on the 21st, on the break of the highs of 20 September. Yesterday, a partial take-profit was triggered at 47.42 and stops on the rest of the position were moved to break-even. I was hoping for a further run north, but instead today the price reversed and took out my stops. Oh well. The only position I carry over this weekend is my EUR/GBP longs. {image}
news event weekends can be brutal. they destroy all logic and charting patterns.

btw, which broker do you use? how are the roll over fees for holding over the weekend?

sylvin Sep 25, 2016 10:22am | Post# 904

anyone here got an insider information with Arab's oil minister? Lol...

ItsAtrap Sep 25, 2016 5:29pm | Post# 905

{quote} news event weekends can be brutal. they destroy all logic and charting patterns. btw, which broker do you use? how are the roll over fees for holding over the weekend?
Mainly Oanda's European platform. For rolling over the weekend we just pay the interest rate differential

ItsAtrap Sep 25, 2016 5:45pm | Post# 906

If Monday's action forms a small trading bar with a low that pokes below Friday's low, it might set up a nice new long entry opportunity on Tuesday with a break of Monday's bar highs. Let's see what the price wants to do

RiderKBP Sep 26, 2016 6:54am | Post# 907

If Monday's action forms a small trading bar with a low that pokes below Friday's low, it might set up a nice new long entry opportunity on Tuesday with a break of Monday's bar highs. Let's see what the price wants to do
it is going to be a cup. or a cooker. depends on timeframe.

shnackattack Sep 27, 2016 5:51am | Post# 908

so what does anyone think about the triangle on a daily timeframe?

RiderKBP Sep 27, 2016 9:55am | Post# 909

so what does anyone think about the triangle on a daily timeframe?
daily suport works as we can see. i think it is unlikely to be broken today. probably tomorrow after official confirmation ''freeze will not happen - opec and nonopec nations will be working further on market stabilization"

my opinion, price might go down to 40 in a month. in case 40 will be broken - 35 the next target.

limzy Sep 27, 2016 11:59am | Post# 910

so what does anyone think about the triangle on a daily timeframe?
Seems like a consolidation after the uptrend on the daily was broken?

Will the trend resume? Hard to trade the daily with diminishing volatility.

ItsAtrap Sep 27, 2016 3:50pm | Post# 911

1 Attachment(s)
So my system signalled a short on Brent Crude today, which is contrary to my longer term directional bias for price to reach 60ish. Still, a signal is a signal so I took the trade and record it here. I do not like the fact that the entry level is around the middle point of the range of the last few weeks. I am not a fan of entering in the middle of ranges. But I took it this time.

I entered short on the break of yesterday's lows (yellow level). Price is still hovering at the entry levels as I type this.

The stop is just above yesterday's highs (red level).

The targets are the green lines. I may adjust the first targets if I am still in the trade by this time tomorrow and price action allows me to lower the stops.
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Name: Crude 27Sep16 short.jpg
Size: 188 KB

RiderKBP Sep 28, 2016 2:41am | Post# 912

http://www.transconflict.com/2016/09...w-prices-289/?
this is what I am thinking about as well..

shnackattack Sep 28, 2016 9:50am | Post# 913

see what oil intentories figure brings in 40 min

kweiss10 Sep 28, 2016 9:54am | Post# 914

Anyone know what time OPEC will be releasing statements today?

Denden2012 Sep 28, 2016 10:07am | Post# 915

Anyone know what time OPEC will be releasing statements today?
at 10:30 EST

ItsAtrap Sep 28, 2016 12:41pm | Post# 916

Today's low might make a good trigger to enter short (or add to existing shorts) if broken tomorrow. With a stop above today's highs. Will revert to this once NY is done trading for the day

RiderKBP Sep 28, 2016 1:06pm | Post# 917

Today's low might make a good trigger to enter short (or add to existing shorts) if broken tomorrow. With a stop above today's highs. Will revert to this once NY is done trading for the day
agree with you. but news coming opec may announce deal thesis still today. can be up to 48, if breakes - 49..

ItsAtrap Sep 28, 2016 2:25pm | Post# 918

1 Attachment(s)
I don't pay attention to news so I do not know about OPEC etc. Got stopped out of my shorts and reverse to long got triggered. Interesting. Let's see how it goes. 1st targets are just below the top of June now. Quick chart. Stops now below yesterday's lows
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Name: 28Sep16 -Crude stop n reverse long.jpg
Size: 169 KB

ItsAtrap Sep 28, 2016 3:11pm | Post# 919

1 Attachment(s)
Crude longs have been triggered on the weekly time frame for me now, with the break of last week's highs. I take larger positions on weekly triggers. 1st targets initially at 55.00 (2x the risk, with the stop initially just below last week's lows).

It's not the best looking trigger of this type for me, but I take it.

Chart for reference
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Name: 28Sep16 CRUDE weekly long trigger.jpg
Size: 146 KB

limzy Sep 29, 2016 9:37am | Post# 920

Is it me or are there too few crude oil traders here on FF?

She can really move with good swings


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