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  • #420,361
  • Apr 12, 2011 8:18am Apr 12, 2011 8:18am
Quoting cloggie
Saudi jsut confirmed a drop in supply on the wires. They are trying to keep the price up on dropping demand.
What a greedy fu&^%$ers! LOL


Seb
  • #420,362
  • Apr 12, 2011 8:18am Apr 12, 2011 8:18am
I am wondering will we ever see 1.6032 again. its just 1500pips away.
  • #420,363
  • Apr 12, 2011 8:18am Apr 12, 2011 8:18am
Quoting Dvalera
seems like i should have been long
maybe so... but can you take the draw-down? we dropped 60/70 pips from where many of you were buying.
those who can, do. those who cant, talk about those who can
  • #420,364
  • Apr 12, 2011 8:18am Apr 12, 2011 8:18am
Does anyone know of an MT4 indicator which looks like this?
http://www.fxstreet.com/forex-tools/market-timeline/ ?
The trend is my friend? The world casino is my friend!
  • #420,365
  • Apr 12, 2011 8:20am Apr 12, 2011 8:20am
Quoting suthmo
I love watching traders trying to explain why moves happen (risk aversion, crude oil retraces). I'll say it again: It's all dictated by past PA, today's move was set in stone a long long time ago and nothing that happened in the last 24/48/72 hours will change it (credit downgrades and tsunamis level events excluded).
I tend to agree with you. I dont pay MUCH attention to news or other stuff...except pure PA and technicals.

For me the BEST supply/demand indicator is CANDLES.
  • #420,366
  • Apr 12, 2011 8:20am Apr 12, 2011 8:20am
Quoting gatorinla
maybe so... but can you take the draw-down? we dropped 60/70 pips from where many of you were buying.
hehe nah i was long at 4250 , i closed with profits so im happy cheers
  • #420,367
  • Apr 12, 2011 8:20am Apr 12, 2011 8:20am
Quoting Citiboy
What sense does this make?

Saudi always adjusts their output based on demand, they are the largest supplier after all. They have increased output over the last 8 months consistently on the back of Chinese demand, now with the demand globally dropping due to EU/US, they are adjusting their output accordingly, no need to get an oversupply, reducing the price even further. Saudi are always the reserve provider.
  • #420,368
  • Apr 12, 2011 8:24am Apr 12, 2011 8:24am
Quoting cloggie
Start seeing overbought for what it really is, a reduction or plateauing of the rate of increase, not as an indication of price direction. As currency is traded as a pair, overbought only means it is moving up at a slower rate, it has no bearing on direction, you need to look at other things for that.
I'm not sure what you mean when you say 'look at other things'. As I see it, the fundamental picture is in a constant state of flux. In no way can the ordinary person foresee what utterances or manouevres are being planned
next and at what time by the powers that be, surely.
  • #420,369
  • Apr 12, 2011 8:24am Apr 12, 2011 8:24am
Quoting T@rantula
I tend to agree with you. I dont pay MUCH attention to news or other stuff...except pure PA and technicals.

For me the BEST supply/demand indicator is CANDLES.
what TF candles? 1H?
  • #420,370
  • Apr 12, 2011 8:25am Apr 12, 2011 8:25am
Quoting billymoney
what TF candles? 1H?
For my intraday/reversal trading yes.

I prefer H1.
  • #420,371
  • Apr 12, 2011 8:27am Apr 12, 2011 8:27am
We're not suppose to be at this level for another 48 hours? Could be go sideways / up for 48 hours. Gotta love crude I'm in long at 107.90 +30 pips and SL 2 BE in about 2 minutes.

Message me again, I had to turn off pop up blocker.
Founder of Sutherland Wave Principle
  • #420,372
  • Apr 12, 2011 8:27am Apr 12, 2011 8:27am
Quoting profx
In no way can the ordinary person foresee what utterances or manouevres are being planned
next and at what time by the powers that be, surely.

That's why the ordinary person will never make it in this business and why most noobs reading this thread today will fail.

Quoting profx
I'm not sure what you mean when you say 'look at other things'.
You need to figure that out for yourself, I am not going to teach you how to trade.
  • #420,373
  • Apr 12, 2011 8:31am Apr 12, 2011 8:31am
Quoting gatorinla
#1 target for oils was 108.92
#2 is 105.69
we slipped below #1 (low 107.84) a bunch.. we didn't retrace yet after a "out of normal range drop". i got 7 red candles on the 4 h in a row. 7 in row is out of the norm..below/above 7 and its time to look for a retrace of some type. below 103.47 ect. its time to take a good look at usd.

96.71 .............oil nymex
shit or pot time.
Attached Image (click to enlarge)
Click to Enlarge Name: olg chf chart 1.203.PNG Size: 29 KB
those who can, do. those who cant, talk about those who can
  • #420,374
  • Apr 12, 2011 8:33am Apr 12, 2011 8:33am
Quoting T@rantula
I tend to agree with you. I dont pay MUCH attention to news or other stuff...except pure PA and technicals.

For me the BEST supply/demand indicator is CANDLES.
T@rantula how big is your deposit and how big is your leverage?
  • #420,375
  • Apr 12, 2011 8:33am Apr 12, 2011 8:33am
Saudi say they gonna increase oil production ,oil has lost $2 already at $108 ,could ease pressure on dollar and we could see a retrace in american session.
If we break below 4480 could be further downside for this session .
making green pips large and red pips small this is my goal.
  • #420,376
  • Apr 12, 2011 8:34am Apr 12, 2011 8:34am
Its simple.. People who are short and holding a losing trade think its overbought .. people who are long say.. says who LMAO
  • #420,377
  • Apr 12, 2011 8:35am Apr 12, 2011 8:35am
Quoting paul1
Saudi say they gonna increase oil production ,oil has lost $2 already at $108 ,could ease pressure on dollar and we could see a retrace in american session.
If we break below 4480 could be further downside for this session .

You got that backwards, Saudi is reducing production by 700k barrels a day.

Next stop for WTI 106.3
  • #420,378
  • Apr 12, 2011 8:35am Apr 12, 2011 8:35am
Quoting Dvalera
hehe nah i was long at 4250 , i closed with profits so im happy cheers
and we went to 448x?.. then you held a drop to 4380... im glad you made money.. thats the goal.
those who can, do. those who cant, talk about those who can
  • #420,379
  • Apr 12, 2011 8:37am Apr 12, 2011 8:37am
Quoting cloggie
That's why the ordinary person will never make it in this business and why most noobs reading this thread today will fail.
With all due respect Cloggie,different strokes for different folks.I've been trading since 1995 and I could careless about Forex funnymentals.Millions of traders and millions of methods,finding your own is key.Trading is an open canvas to paint on,the question is will you learn how to paint before you run out of money.
  • #420,380
  • Apr 12, 2011 8:37am Apr 12, 2011 8:37am
Nice R:R Start building short h1 get a close below 4487
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Yaruki