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Trading Futures

  • #181
  • Aug 27, 2008 11:07am Aug 27, 2008 11:07am
Quoting MykeFX
I spent a few hours trying to get a demo chart of oil, futures and or the DJ installed and was unsuccessful . I don't want to know anyones broker just a point in the right direction to get a MT4ish realtime demo chart up of the DJ etc .... anyone want to help out a newb?

Thanks,
fxpro with MT4 platform and YM and OIL futures chart
  • #182
  • Aug 27, 2008 11:37am Aug 27, 2008 11:37am
Quoting Piters
fxpro with MT4 platform and YM and OIL futures chart
Thanks Piters, got it working.
  • #183
  • Aug 27, 2008 1:04pm Aug 27, 2008 1:04pm
Quoting Devilc0de
it has been slow movement on oil this few days.. i got buy order at 111.xx and targeting 118 or 119 for my first tp..
Hi there ... not sure if you are trading oil futures ... but slow is not how I would call it. the channel today has been giving 100 pip waves. i guess if you are a buy a hold kind of trader in for the long run that is is slow.

The down off top today was $3 ... and that has moved down with in a bear flag fprmation to test 38 % fib (116.95 , where we had a nice $1 bounce into 23% fib 117.9 , then a mice little short off that level , as i speak we are breaking the top of the flag .....118 zone.
Blogging daily now at www.volume.zone
  • #184
  • Aug 27, 2008 1:07pm Aug 27, 2008 1:07pm
Quoting malcolmb14
Hi there ... not sure if you are trading oil futures ... but slow is not how I would call it. the channel today has been giving 100 pip waves. i guess if you are a buy a hold kind of trader in for the long run that is is slow.

The down off top today was $3 ... and that has moved down with in a bear flag fprmation to test 38 % fib (116.95 , where we had a nice $1 bounce into 23% fib 117.9 , then a mice little short off that level , as i speak we are breaking the top of the flag .....118 zone.
that was a high volume break out bar .... little follow thru yet as long as 117.8 holds I am long CL (oil)
Blogging daily now at www.volume.zone
  • #185
  • Aug 27, 2008 1:11pm Aug 27, 2008 1:11pm
Quoting malcolmb14
that was a high volume break out bar .... little follow thru yet as long as 117.8 holds I am long CL (oil)
i was long oil off 118.50 , till it broke this morning , this is going to be tough resistance , even now we do not seem to be getitng any follow thru on the break out
Blogging daily now at www.volume.zone
  • #186
  • Aug 28, 2008 7:20am Aug 28, 2008 7:20am
I posted this in another thread, but its such a clear chart that I decided to post it here too.....

Great use of the sweet spots and pivots yesterday - the early spike up after the better than expected Durable Goods Data hit the 11450 level before retracing to a higher low 20 minutes into the NYSE session - actually holding at the green MS1 level.

Given that the Daily Pivot was at 11399 it made sense to buy the break above these levels. The first run up of 110 points stalled around the green MR2 level before its pull back to the 450 area - and 34 ema! - before taking off for another 110 point rally which stopped at R3 / 550. I'd actually placed a limit order on my second long at 11448.....http://www.forexfactory.com/images/icons/icon6.gif
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1219910154
Trading Levels with WRBs
  • #187
  • Aug 28, 2008 1:10pm Aug 28, 2008 1:10pm
NEckLine form 1h H&S pattern, acting as a Resistance TL.
and Daily Chart forming a Massive H&S with targets below 10.500

Good Luck

http://www.doske.com/Charts/TS10.jpg

http://www.doske.com/Charts/TS11.jpg
  • #188
  • Aug 28, 2008 1:22pm Aug 28, 2008 1:22pm
Quoting Piters
NEckLine form 1h H&S pattern, acting as a Resistance TL.
and Daily Chart forming a Massive H&S with targets below 10.500

Good Luck

http://www.doske.com/Charts/TS10.jpg

http://www.doske.com/Charts/TS11.jpg
I like the sound of sub 10500....
Blogging daily now at www.volume.zone
  • #189
  • Aug 28, 2008 1:43pm Aug 28, 2008 1:43pm
Thanks, I hadn't noticed the potential H & S.....however, I do have a fibo 38% retracement of the whole of the May to July fall at 11,703.

Todays high - so far - is 11,707 which is todays MR3 level. With todays range already 60 greater than the average I would expect some profit taking.

Any further upside will be dependent on further good news from tomorrow's data - Freaky Friday and the month's end too.....http://www.forexfactory.com/images/icons/icon11.gif
Trading Levels with WRBs
  • #190
  • Aug 29, 2008 9:39am Aug 29, 2008 9:39am
Here's my 5m oil chart - good support at the 116.50 level and again the market rallied in early NY trading - I closed my long at 118.

So far the retrace has held just above the7.50 level / 34ema and give the p hurricane forecast may rally again.

However, I'm finished for the week - I'll keep my pips in my bank.....
Attached Image (click to enlarge)
Click to Enlarge Name: aug 29 oil 5m 1630.gif Size: 12 KB
Trading Levels with WRBs
  • #191
  • Aug 29, 2008 9:55am Aug 29, 2008 9:55am
I still had a Dow short trade open with a trailing stop and a limit order at the 600 level - it just got hit......http://www.forexfactory.com/images/icons/icon7.gif

Again plenty of indications that the 700 level would hold....
Attached Image (click to enlarge)
Click to Enlarge Name: aug 29 dow 5m 1650.gif Size: 12 KB
Trading Levels with WRBs
  • #192
  • Aug 29, 2008 10:44am Aug 29, 2008 10:44am
Nice move from the TOP:

http://www.doske.com/Charts/ts12.jpg
  • #193
  • Aug 29, 2008 12:40pm Aug 29, 2008 12:40pm
alright piters looking at the chart i think theres a lot more down side
to come i dont have a precise target but ill be ready to exit when i
see fit - can i pick your thoughts on a target etc.....

cheers
  • #194
  • Aug 29, 2008 12:52pm Aug 29, 2008 12:52pm
Quoting cohiba pips
alright piters looking at the chart i think theres a lot more down side
to come i dont have a precise target but ill be ready to exit when i
see fit - can i pick your thoughts on a target etc.....

cheers
I''ll post over weekend.. but after this reverse to DPP, yes, we should see down move...

As you said.. watch the charts, but trade on smaller TF, and be ready to exit .

Long term target, definitly below 10500, short term, watch on bull action to close above DPP. More Thoughts on Sunday, as now is 4am. going to sleep..

Have a nice weekend mate..
  • #195
  • Aug 29, 2008 7:08pm Aug 29, 2008 7:08pm
Caught a nice downside breakout on the DOW today.
Attached Image (click to enlarge)
Click to Enlarge Name: DOW.jpg Size: 175 KB
  • #196
  • Aug 29, 2008 9:00pm Aug 29, 2008 9:00pm
Quoting cohiba pips
alright piters looking at the chart i think theres a lot more down side
to come i dont have a precise target but ill be ready to exit when i
see fit - can i pick your thoughts on a target etc.....

cheers

not sure how long you have been trading futures but if holding overnight make sure your stops are large VERY large. This bad boy can have 200 point swings.

I day trade open range breakouts .. that I am never guessing where the market is going , only reacting to the days sentiment.

Today was a gorgeous breakdown of the OR low at 11636.

Today's low was a 50 % retracement of move 11318 to 11740 and could be only a retracement before the continuation of the uptrend that is apparent on the daily right now. Todays' daily candle does look like and inside bar , but candle patterns mean not alot these days when trading the dj-30 on swing trades as news / oil prices etc will swing the price considerably from day to day

The bear flag formation that we have on the daily right now could go all the way to 12300 and still be a valid bear flag...as this would be the 61.8% retracement of the move 14400 to 10800.


good luck on the short
Blogging daily now at www.volume.zone
  • #197
  • Sep 2, 2008 3:06am Sep 2, 2008 3:06am
Originally Posted by Islander http://www.forexfactory.com/images/buttons/viewpost.gif
With the US on holiday, I'm long the Dax looking for it to close its gap down open. Currently, its having difficulty breaking its 6400 level - I'll post a chart later.

I've already banked pips on a long trade in oil from its DP to the 117 level and I may take another trade when I get back - I'm out for a couple of hours...
I got delayed, but my limit order was hit as the opening gap got closed.

The trade was from the bounce off the MS3 level and price actually ran on up to the DP before pulling back and giving another buy signal as it failed to reach the 400 level, holding around the 200ema.

There was a good 40 points in each trade - say $1500 / contract....
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1220290508
Trading Levels with WRBs
  • #198
  • Sep 2, 2008 3:18am Sep 2, 2008 3:18am
Whilst waiting to see IF cable is going to bounce off its 7850 level - I closed my short at 859 - I 've taken another nice trade in the Dax.

After closing its overnight gap it traded down to its MS1 level before turning north.

I waited for the break of the confluence of the DP and the 34ema before buying and exited half for 50 points as it stalled at yesterdays high.

If this move carries on I'll look to exit more at the 500 level and then the R2 at 528 if the move looks really strong...
Attached Image (click to enlarge)
Click to Enlarge Name: sep 2 dax 5m 1000.gif Size: 9 KB
Trading Levels with WRBs
  • #199
  • Sep 2, 2008 8:11am Sep 2, 2008 8:11am
Oil had a $5.50 fall early in the European session, followed by a retrace of just over 50% to its S1 level.

I've been trading the S2 - S1 - S2 levels and have just closed my short in the last push down..... http://www.forexfactory.com/images/icons/icon12.gif
Attached Image (click to enlarge)
Click to Enlarge Name: sep 2 oil 5m 1505.gif Size: 15 KB
Trading Levels with WRBs
  • #200
  • Sep 2, 2008 10:30am Sep 2, 2008 10:30am
The dow also rose in the early European session and so I was ready to start trading as the focus switched to New York.

There were plenty of buy signals and I was long before the big move up that started as the NYSE opened with my TP set at 11800 - too greedy, so I closed my last long at 781 and after the ISM data at 16:00 (10am edt)started selling and closed my shorts in the spike down to the 700 level...http://www.forexfactory.com/images/icons/icon12.gif
Attached Image (click to enlarge)
Click to Enlarge Name: sep 2 dow 5m 1720.gif Size: 15 KB
Trading Levels with WRBs
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