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  • #261
  • Jan 13, 2014 7:08am Jan 13, 2014 7:08am
Quoting mrmalik1
for further bearish confirmation need to close 4hr candle below 92

right
  • #262
  • Jan 13, 2014 7:17am Jan 13, 2014 7:17am
Quoting Razi89
{quote} right

your trade align with trend.hopefully you will get your target
  • #263
  • Jan 13, 2014 7:24am Jan 13, 2014 7:24am
Quoting Razi89
{quote} your trade align with trend.hopefully you will get your target

hope inshallah
MRMALIK1
  • #264
  • Jan 13, 2014 7:35am Jan 13, 2014 7:35am
light chali gyi hai laptop charging end
  • #265
  • Jan 13, 2014 9:08am Jan 13, 2014 9:08am
s/l hit 92.30 so my trade closed on BE
MRMALIK1
  • #266
  • Jan 13, 2014 10:21am Jan 13, 2014 10:21am
Good day everyone...

Here's my take on CL.... we essentially bounced 2$ from the low after a 9$ drop... idk about you but that's very unimpressive bounce, and now it seems to be in consolidation mode...

If anything technical analysis teaches me is that...

1. It's below all moving averages.
2. It's making a potential bear flag near the low.
3. Last 2 times when CL touched 110, it retraced back to 80$
4. 92 is temporary support, below that I have 90 and 86 then 80.

Obviously taken all that... we have to trade within the context of our own account.

Good luck.
  • #267
  • Jan 13, 2014 10:26am Jan 13, 2014 10:26am
Quoting Orientxpress
Good day everyone... Here's my take on CL.... we essentially bounced 2$ from the low after a 9$ drop... idk about you but that's very unimpressive bounce, and now it seems to be in consolidation mode... If anything technical analysis teaches me is that... 1. It's below all moving averages. 2. It's making a potential bear flag near the low. 3. Last 2 times when CL touched 110, it retraced back to 80$ 4. 92 is temporary support, below that I have 90 and 86 then 80. Obviously taken all that... we have to trade within the context of our own account....
Wooooohooooo or Boooooohooooo
  • #268
  • Jan 13, 2014 10:29am Jan 13, 2014 10:29am
Praying for a rally to 96 this week. Free money is awesome. Gotta sell every rally at this point, might not even make it to 96.
  • #269
  • Jan 13, 2014 10:42am Jan 13, 2014 10:42am
i am expecting 96.00 from here with 91.01 SL now price is 92.09 Good Luck
Attached Image (click to enlarge)
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Trading by EA
  • #270
  • Jan 13, 2014 11:03am Jan 13, 2014 11:03am
will go long at 91.70 if price action indicates so, still overall momentum is very bearish.
  • #271
  • Jan 13, 2014 11:12am Jan 13, 2014 11:12am
Quoting acidguy
will go long at 91.70 if price action indicates so, still overall momentum is very bearish.

me also thinking the same
  • #272
  • Jan 13, 2014 12:02pm Jan 13, 2014 12:02pm
Quoting Razi89
{quote} me also thinking the same
FOMC’s Lockhart: 2014 growth looks good and upside growth surprise more likely; taper to continue if recovery persists; unemployment rate drop likely overstating job market health


i will stay long
Trading by EA
  • #273
  • Jan 13, 2014 7:42pm Jan 13, 2014 7:42pm
Quoting mmudasir
{quote} FOMC’s Lockhart: 2014 growth looks good and upside growth surprise more likely; taper to continue if recovery persists; unemployment rate drop likely overstating job market health i will stay long
long at 91.70 tp 93, will get out if oil makes a recent lower low, the only problem with oil and the world is pointing to china,
market like to price everything anticipated, if china is in trouble $60 or less oil prices is not a joke.

if it goes 95 will start to sell at every rally.
  • #274
  • Jan 14, 2014 10:19am Jan 14, 2014 10:19am
market sentiment look like have changed in the short term as usa data is better than expected,
i think oil will try to test support at 91 mids in the next hours, will take another long to 93 area.
  • #275
  • Jan 14, 2014 10:26am Jan 14, 2014 10:26am
recent movements in crude oil are total nonsense as usual. with the beginning of new year a big player (or group) started to force sell by dumping oil at every support zone and now it makes big ups and downs to crash automated traders for a while. you can make good money on this commodity but it'll diminish all the profits when the time comes. this is hugely manipulated market, just saying.
  • #276
  • Jan 14, 2014 12:17pm Jan 14, 2014 12:17pm
Quoting nevermind
recent movements in crude oil are total nonsense as usual. with the beginning of new year a big player (or group) started to force sell by dumping oil at every support zone and now it makes big ups and downs to crash automated traders for a while. you can make good money on this commodity but it'll diminish all the profits when the time comes. this is hugely manipulated market, just saying.

all automated traders should crash, they are like viruses messing with the the markets,
its all about numbers, crude oil next stop @94.
  • #277
  • Jan 15, 2014 10:07am Jan 15, 2014 10:07am
$94 hit, usa data crude oil supply is very bullish for crude prices, next stop $95.5-96, from there will start looking to short to 93 again,
short-medium term target $86, long term $70.
  • #278
  • Jan 15, 2014 5:08pm Jan 15, 2014 5:08pm
Good day traders...

I didn't participate in any trades today. Been doing some research. In any case... by looking at price action from today's trading. It looks very promising for another 1$ or 2$ to the upside as Acid has mentioned. I do not speculate on longer term, but from my experience, this setup is very powerful, and has logical reasoning behind it technically. Mid 95s has some barrier, but wouldn't surprise me if it aims to 97s.

If i find opportunities to trade long till next area of resistance... I will do so.

If this isn't a change of direction at least short term, then idk what is.

Good luck
  • #279
  • Jan 15, 2014 6:22pm Jan 15, 2014 6:22pm
agree that 95.50 or so should be next stop for crude then we'll see what happens. thinking it may just consolidate for a bit until we head lower.
  • #280
  • Jan 15, 2014 6:22pm Jan 15, 2014 6:22pm
I agree with your assessment "acidguy", Crude is in a retracement wave with current readings still indicating another leg down to surpass the 1/9/14 low. I think it's headed to test the low $90 level. The question is, how far will the current retracement wave go before reversing ... 38.2%; 50%; or maybe even 61.8%? Check out the attached chart I drew. Note the exact measurements for the Fib 2.618 target once wave 3 was established. The calculations missed by .10. Pretty to see after the fact though. Happy trading, and always use stops, or you'll eventually get your account blown up.
Attached Image (click to enlarge)
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