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Trading Crude Oil with price action + indicator

  • #241
  • Aug 5, 2014 7:57am Aug 5, 2014 7:57am
excellent analysis man , thank you.
  • #242
  • Aug 5, 2014 10:29am Aug 5, 2014 10:29am
be careful as got stopped out. had my stop placed one pip below the recent low on daily chart
  • #243
  • Aug 7, 2014 3:40pm Aug 7, 2014 3:40pm
guys crude below 98.1 is going lower, i expect to see 95 before an uptrend, we are also capped bu an h1 trendline at the moment

http://www.mql5.com/en/charts/221582...staforex-group

skype = shanemort

Look me up if you want to talk crude oil!
  • #244
  • Aug 12, 2014 4:25am Aug 12, 2014 4:25am
Quoting shanemort
guys crude below 98.1 is going lower, i expect to see 95 before an uptrend, we are also capped bu an h1 trendline at the moment http://www.mql5.com/en/charts/221582...staforex-group skype = shanemort Look me up if you want to talk crude oil!
Shanemort

CRUDE OIL

I have one challenge......first off......I believe that in trading, the month/week and day candles have to be in one direction and be FULL body candles.
Right now prices are stark because the month candle is stagnant and keeps changing colours on one spot. Its now almost 2 weeks.

What do you think is the reason? Also, what actually moves prices on the MN1 time frame???

Hope you can assist, thanks a lot
  • #245
  • Aug 12, 2014 6:38am Aug 12, 2014 6:38am
Quoting breakthru56
{quote} Shanemort CRUDE OIL I have one challenge......first off......I believe that in trading, the month/week and day candles have to be in one direction and be FULL body candles. Right now prices are stark because the month candle is stagnant and keeps changing colours on one spot. Its now almost 2 weeks. What do you think is the reason? Also, what actually moves prices on the MN1 time frame??? Hope you can assist, thanks a lot
Price moves the Monthly candle
Support areas / seasonal trends etc
money and the occasional crises

July / August are usually rangebound with Oil, although this yr has been particularly rubbish
late August there maybe a rally, but who knows what the end of the yr may bring

look to take the better longs (and in Monthly uptrends) above major support
Brent for one is still below major support
so still semi - bearish
  • #246
  • Aug 12, 2014 9:39pm Aug 12, 2014 9:39pm
Hi there;

In my opinion, WTI still struggle with the Middle east news and the oversupply issue from iraq.
Blolomberg Source " Iraq crude exports may exceed 2.5 mils B a day in Aug"
Dollar Strengthen at this seasons, this 2 factors might drive the price lower.

However, US driving seasons normally runs from May till Labor Day in Sept.
Geopolitical tense in Middle East, and the Russia & Ukraine News, will drive the price up.

So the price still range at 96.50 - 98.xx.
  • #247
  • Aug 13, 2014 10:15am Aug 13, 2014 10:15am
WTI Crude Oil threatens a more bearish turn in its broader multi-year range. WTI has come under increasing pressure in its multi-year range. Removal of trendline support at $97.30 would see a deeper sell-off to the $91.24 low, below which would aim at $85.61. Resistance shows at $105.25 then $107.73/75. with the top of the range at $111.20/$112.24 expected to cap.
  • #248
  • Aug 13, 2014 10:45am Aug 13, 2014 10:45am
Crude oil will go very high from here. Expect 98.
  • #249
  • Aug 14, 2014 9:38am Aug 14, 2014 9:38am
Hi Iwishtowin,

How can you be sure it will reach 98?
I'm new and i'm trying to follow your thoughts.

Thank YOU
  • #250
  • Aug 14, 2014 11:33am Aug 14, 2014 11:33am
Quoting ChristopheCo
Hi Iwishtowin, How can you be sure it will reach 98? I'm new and i'm trying to follow your thoughts. Thank YOU
It went up like boom in a couple of minutes to near 97 and i closed my position there. Now it is again time to buy and it will go up atleast 60-70 points in short time.
  • #251
  • Aug 14, 2014 11:45am Aug 14, 2014 11:45am
Quoting iwishtowin
Crude oil will go very high from here. Expect 98.
Well, it tanked to 96 and going further down.
  • #252
  • Aug 14, 2014 11:55am Aug 14, 2014 11:55am
Nice drop this morning. I'm out. I'd like it to re-trace back upto $98 or so and reload...
  • #253
  • Aug 14, 2014 12:15pm Aug 14, 2014 12:15pm
Quoting seanwg
Nice drop this morning. I'm out. I'd like it to re-trace back upto $98 or so and reload...
Russia being the largest oil producer in the world has decided to stop oil export to the West which will lead to shortage of crude oil in western countries and ultimately result in hike in oil prices. I am looking forward for a huge increase in oil price from this time onward. Also note that this dip in price is only due to Russia supply overflow to the East but it does not include the West.
  • #254
  • Aug 14, 2014 12:40pm Aug 14, 2014 12:40pm
I am planning to buy on current rate 94.37. This is the lowest rate at-least for the next one month i believe and it will go up to 100
  • #255
  • Aug 14, 2014 1:03pm Aug 14, 2014 1:03pm
Are you trading the current month contract? Oct? Options? I only trade options on it...


Interesting oils dropped like $2. USD/CAD hasn't really moved...
  • #256
  • Aug 14, 2014 1:16pm Aug 14, 2014 1:16pm
Quoting seanwg
Are you trading the current month contract? Oct? Options? I only trade options on it... Interesting oils dropped like $2. USD/CAD hasn't really moved...
Hi Sean, i trade futures. i have purchased Oct future contract
  • #257
  • Aug 14, 2014 1:18pm Aug 14, 2014 1:18pm
it seems as current rate is strong buy point. what do you think?
  • #258
  • Aug 14, 2014 1:27pm Aug 14, 2014 1:27pm
Hmm. Its been like at 45 degrees down since july and you want go long? Why?
  • #259
  • Aug 14, 2014 1:35pm Aug 14, 2014 1:35pm
I believe that price is at baseline of historical monthly price. Top is above 100 so I have decided to go long
  • #260
  • Aug 15, 2014 11:05am Aug 15, 2014 11:05am
I am out of Crude oil. Will buy again on the next dip.
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