Trading Crude Oil with price action + indicator
Oil tends to be very technical and "mostly" respects demand /supply zones. I trade oil and find that that is the best way to trade it. And like some posters have said, once it moves, it moves and you better hang on to your pants 
... make sure you use small lot size that way you are not eaten alive if the trade goes against you always use a suitable and reasonable StopLoss (usually I use support resistance levels for SL and TP)
... make sure you use small lot size that way you are not eaten alive if the trade goes against you always use a suitable and reasonable StopLoss (usually I use support resistance levels for SL and TP)
Oil tends to be very technical and "mostly" respects demand /supply zones. I trade oil and find that that is the best way to trade it. And like some posters have said, once it moves, it moves and you better hang on to your pants
What timeframe do you use what stop do you apply ?
Oil tends to be very technical and "mostly" respects demand /supply zones. I trade oil and find that that is the best way to trade it. And like some posters have said, once it moves, it moves and you better hang on to your pants
Just wondering - any idea what happened yesterday? No inventory update, dollar index lowered a lot, yet crude oil went down the toilet. I would never expect it to test the support line at around 43.60.
I used RSI to indicate on M15 - M30 what is the best time to get in there. Usually it works for me, yesterday it did not. Can't seem to understand why. When dollar is lower, crude oil should go up as well as other commodities, right? Seems like when dollar goes up, crude goes up as well. Can't seem to understand this behavior.
Is there anyone who made money yesterday on this behavior? How? What tech. analysis besides fib.retracement / RSI you used to see this big move down?
- #635
- Sep 12, 2015 10:14am Sep 12, 2015 10:14am
Oil tends to be very technical and "mostly" respects demand /supply zones. I trade oil and find that that is the best way to trade it. And like some posters have said, once it moves, it moves and you better hang on to your pants
{quote} Here.
i'm a very busy pharmacist but i trade crude oil with ease and i've been having good result.
i try to create a balanced rhythm between the market volatility on time frame and price action using renko charts along with a 1hr TF indicator
Each candle stick on the renko chart represents 15min. this sieves out lot of fake moves and you use your indicators on a one hour time frame to know the only direction to place order (either buy or sell).
if the 1hr tf says buy, i buy only on the crude oil renko chart and vice versa.
i hope this would be of help.
i use the fundamentals (www.investing.com/commodities/) to know when the major moves occur but i follow strictly my technicals with great results.
