Trading Crude Oil with price action + indicator

Added 2nd "Short" @ 51.82

SL now at B/E @ 51.78
Plus $170 and still opened.

07:02 hrs, SL moved to 51.72
Plus $510 and still opened.

You are scalping?

This trade was closed early due to other business engagements.

thank's for the insight, i;ve been reading those wiki link before, but sometimes simple word from expert are much more easy to catch. perhaps that's the reason why it's listed under CFD instrument, and the lot size are begin with 1 lot traded. bit confusing bit while tested my ea use 0.01 lot size, dont working, and I realize acceptable lot size are start with 1 lot size, which equal to 0.01 at normal currency pair.
today's entry position :

still try to figure best setting, limited entry around EU-US session.

Hello Rocky. I had nearly given up on supply and demand trading until I came across your material using volume to "verify" levels. I'm still very early in incorporating this concept but it seems the missing link for me in having confidence to trade s/d levels. Before it seemed like a crap shoot. Additionally I am now looking at futures instead of forex to trade s/d. I will still trade forex but probably not s/d. Thanks for posting on FF!

Thank you for answer

Just looked at your chart immediately after writing this ... . I'm thinking that that mid to late December noise area is a good place to consider shorts ... .

WTI Eyes Resistance -- Rejection May Trigger CAD Weakness

I don't trade oil directly, but I frequently look at oil for its potential effect on one of the forex currencies I do trade -- the Loonie.

WTI is currently flirting with a resistance level that, in my mind, is likely to provide a short-term barrier to further oil price increases:

Attached Image (click to enlarge)
http://www.forexfactory.com/attachme...1&d=1429492061


The run-up to this level against a backdrop of continuing increases in U.S. oil stockpiles and possible easing of sanctions against Iran (all of which should depress prices) is probably the result of overblown speculation regarding the effect that instability in Yemen will have on oil transportation/production, http://www.ibtimes.com/how-instabili...-trade-1790068 and is likely to be fleeting once the size and capabilities of the Houthi rebel fighters is understood -- small and only effective as compared to the even more ineffectual ousted Yemeni regime defenders; more importantly: a force unlikely to be capable of both holding its ground and simultaneously blockading or otherwise restricting the transport of oil through the what is likely to be a heavily defended Bab el-Mandeb strait.

In a nutshell, my supposition is that oil will fall away from this resistance area (between current prices and $60, where there is quite a bit of noise if the price action in mid- to late December is any indication), buoying CAD and other petro-economy currencies in short order.

newest fundamental data are negative for oil, be careful if you are long

API Crude Oil Inventories (Apr 17) W/W 5500K vs. Prev. 2600K
Refinery capacity utilisation (Apr 17) down 0.1% at 91.4% vs. Prev. 91.5%.

Solid charts Rock

oil is very intresting to trade,got some juice out of this morning.

Stopped out Minus $390

Nice.. Im waiting for prices to come down to the 50% fib

HI All,

reading through the posts, thought id share something I found useful in the oil for successful training. Note this is not mine , just a resource

PS - I have found that since this 7 am EST on oil is great to trade too , before opening or report days. after 1:30 pm usually kiss anything good bye - you may on occasion after 4 pm find some setups but hourly trades show the trend the nicest here.

Good luck and wish you all well.

OROLO

Thank you for sharing this, Orolo. I have had a short look at it and seems to me that it has a great value. At least I will study it carefully and use it. Thank you