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Trading Crude Oil with price action + indicator

  • #721
  • Dec 16, 2015 8:47am Dec 16, 2015 8:47am
One live trade up.... Free trade from now on. Am targeting to 36.00 zone for profit taking....
Lets see...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 16.11.2015 target 1 stop on BE.PNG Size: 83 KB
  • #722
  • Dec 16, 2015 9:12am Dec 16, 2015 9:12am
Quoting MillerTime
{quote} The perception that the US is on top of the world is just that... the equities have been on a bullish run simply because of the Fed's pumping money into the economy.. Theoretically, interests rates are raised in order to slow down an over heating economy and control inflation. Since neither of those two are actually happening, (in my opinion) the raising of interest rates is purely political... The only reason we have unemployment at 5% is because of the large number of (otherwise) eligible workers are now on welfare. Under the idiot running...
I agree. Equities are at record only because of QE programs and banks investing money instead of lending it in to economy and stimulate growth. This is why my opinion is that I just cant see more oil demand in near future. Ther is a big chance that equity ballow will pop againg in the states and suddenly people will get burned againg. I hope they are smart enaught and not to increase rates at this stage.
  • #723
  • Dec 17, 2015 9:49am Dec 17, 2015 9:49am
Some selling action from today.
I sold top edge when i saw correct orderflow at yesterday POC. It was trade with the strong holders. Trade has more of the potential to go lower but i decided to squeeze my trail stop little closer since we get the biggest volume of the day after we broke the lows so it might be profit taking from the institutions. Anyways it was +52 tick trade and not a bad day at all for one trade. Comments and questions welcomed...

Regards
Attached Image(s) (click to enlarge)
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  • #724
  • Dec 24, 2015 9:35am Dec 24, 2015 9:35am
Strong indications that a Crab pattern has completed on the day chart from indicators, MACD and AC, but I am not convinced. I take note of fundamentals but use technical analysis to trade, and the fundamentals that I have been reading on WTI OIL seems all to have a bearish nature for 2016. Also I do not trade WTI OIL futures but only use the analysis when I am considering to trade the CAD.

The xd leg current Fibonacci extension value is at 118.17% and has room to extend to 161.8%
The bd leg current Fibonacci extension value is at 187.23% and has room to extend to 261.8%

From a technical analysis point of view it will be interesting to see if a small bearish Gartley pattern will develop that will lead to the completion of above said Crab pattern.
Attached Image (click to enlarge)
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  • #725
  • Jan 7, 2016 10:45am Jan 7, 2016 10:45am
I took a long at what ended up being the low of oil... The price is now 2.00 dollars higher then where i bought. Imagine I earned 25 pips and made 22%. Had I held for 200 pips profit, I would of been up over 200% on that one trade alone.
Attached Image (click to enlarge)
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Just because you "the information" doesn't mean you have knownledge.
  • #726
  • Jan 7, 2016 9:07pm Jan 7, 2016 9:07pm
Quoting BoxTheory
I took a long at what ended up being the low of oil... The price is now 2.00 dollars higher then where i bought. Imagine I earned 25 pips and made 22%. Had I held for 200 pips profit, I would of been up over 200% on that one trade alone. {image}
loser focus on the profit, winners focus on the risk.
All posts are my personal opinion
  • #727
  • Jan 7, 2016 10:58pm Jan 7, 2016 10:58pm
wti and brent are both heading to 20-25 even as supplies slowly come offline.
glencore risk effect, opec production effect, less demand as markets sell off.

american market correction, canadian recession, russia recession, south america recession.......oil going to 20-25 range.

When oil nears 25 im eyeing companies to pile into and 6 month out futures to go long.
  • #728
  • Jan 8, 2016 2:14am Jan 8, 2016 2:14am
Quoting Rtm
{quote} loser focus on the profit, winners focus on the risk.
I love these backward thinking "sayings". The "reality" is Losers don't have profits, which is why the are losers, and risk is as subjective as the weather.
Just because you "the information" doesn't mean you have knownledge.
  • #729
  • Jan 8, 2016 2:15am Jan 8, 2016 2:15am
Quoting yeniful
wti and brent are both heading to 20-25 even as supplies slowly come offline. glencore risk effect, opec production effect, less demand as markets sell off. american market correction, canadian recession, russia recession, south america recession.......oil going to 20-25 range. When oil nears 25 im eyeing companies to pile into and 6 month out futures to go long.
Ok as you wait for 20-25 on oil, as the rest of the world, I am sure you would still say that your call was a good one, assuming that oil spikes to 50 then drops to 20.
Just because you "the information" doesn't mean you have knownledge.
  • #730
  • Jan 8, 2016 2:28am Jan 8, 2016 2:28am
Quoting BoxTheory
{quote} I love these backward thinking "sayings".
look who is talking, hindsight.
All posts are my personal opinion
  • #731
  • Jan 8, 2016 5:39am Jan 8, 2016 5:39am
Don't buy which look cheaper and sell look higher...
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -425
  • #732
  • Jan 8, 2016 5:42am Jan 8, 2016 5:42am
If it's brake 35.30 then we see up trend.
For today's trade buy above 34.30.
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -425
  • #733
  • Jan 8, 2016 7:01pm Jan 8, 2016 7:01pm
Quoting Rtm
{quote} look who is talking, hindsight.
You may want to focus on that account, in which you hid all of the stats. You know the one with the big floating loss, and post less.
Just because you "the information" doesn't mean you have knownledge.
  • #734
  • Jan 8, 2016 7:02pm Jan 8, 2016 7:02pm
Quoting mohsinali
Don't buy which look cheaper and sell look higher...
What type of trading strategy is that?
Just because you "the information" doesn't mean you have knownledge.
  • #735
  • Jan 9, 2016 12:47pm Jan 9, 2016 12:47pm
Quoting BoxTheory
{quote} What type of trading strategy is that?
Trend trading.
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -425
  • #736
  • Jan 9, 2016 8:24pm Jan 9, 2016 8:24pm
I am supposed to feel insulted? lol bro I turnover more than your whole account in one day.. You just a speck of dust. Forex dealers don't give a shit about you or your orders on a 1000 account
All posts are my personal opinion
  • #737
  • Mar 15, 2016 4:12pm Mar 15, 2016 4:12pm
Any alive oil traders here?
  • #738
  • Mar 29, 2016 9:46pm Mar 29, 2016 9:46pm
Went long Crude Oil CFD at $38.82 based on support at $38 and possible bottom formation. Charts below.

Monthly Chart

  1. Price has bounced from the $25/$26 area, forming up nice long lower wicks on the monthly candles signifying increasing buying pressure off of this price level.
  2. Also note that the $25/$26 area seems to have some support/resistance significance going back as far as 1995.
  3. It is for this reason that I think we might have put in a bottom, as this is what the bottom in 2008/2009 formed (long lower wicks on the monthly chart before reversing).


Attached Image (click to enlarge)
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Daily Chart

  1. Price was capped the by the 200-day EMA back in mid-2015 following a rally off of the $44 level.
  2. Since then, oil has formed two levels of significance - $34.50, which has been taken out, and $38, which also was taken out but has since been re-tested this week and held thus far.
  3. Oil broke above an 8-month downtrend line, and re-tested it as well.
  4. Current price action is again weighed down by the 200-day EMA.

Attached Image (click to enlarge)
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  • #739
  • Apr 3, 2016 6:25am Apr 3, 2016 6:25am
Attached Image (click to enlarge)
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Oil Bulls getting nervous?
A busy week in oil saw some decent falls in price. Much of the recent rise in price has been down to the anticipation that the upcoming oil producers meeting in a couple of weeks in Doha, will see a freeze in production, but there's certainly been news this week suggesting this won't be the case. Saudi Arabia have said that if any country raises output (namely Iran), then it will not freeze production, thereby reducing the chances of an agreement. These comments sparked an immediate sell off. Meanwhile U.S. inventories rose again, Iran increased production, as did OPEC overall, and Russian figures for March show production at it's highest level since the end of the Soviet Union in 1991. Looking at the Brent weekly chart, the hidden bearish divergence, above, is still in play. Let's see if the sell off continues this week.
  • #740
  • Apr 4, 2016 5:34am Apr 4, 2016 5:34am
Quoting FxJunkies
{image} Oil Bulls getting nervous? A busy week in oil saw some decent falls in price. Much of the recent rise in price has been down to the anticipation that the upcoming oil producers meeting in a couple of weeks in Doha, will see a freeze in production, but there's certainly been news this week suggesting this won't be the case. Saudi Arabia have said that if any country raises output (namely Iran), then it will not freeze production, thereby reducing the chances of an agreement. These comments sparked an immediate sell off. Meanwhile U.S. inventories...
I think we have see the lows for this move.
"Bulls make money, bears make money, pigs get slaughtered"
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