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Trading Crude Oil with price action + indicator

  • #901
  • Sep 23, 2016 2:51pm Sep 23, 2016 2:51pm
Quoting sylvin
{quote} How long it is? 3 months? i think it will be long before we can hit that price though.
I reckon by end of year or so. In the end , I only made a profit on half of this long position. The other half got stopped at break-even earlier today. About to post a chart of that. Will still look to buy lower, if I see the price action that triggers a buy on my system. When I do, I will try to post here as soon as possible.
  • #902
  • Sep 23, 2016 3:09pm Sep 23, 2016 3:09pm
Well here's all my long trade managed to make me. A lousy buck and some cents. I entered on the 21st, on the break of the highs of 20 September. Yesterday, a partial take-profit was triggered at 47.42 and stops on the rest of the position were moved to break-even. I was hoping for a further run north, but instead today the price reversed and took out my stops. Oh well.

The only position I carry over this weekend is my EUR/GBP longs.
Attached Image (click to enlarge)
Click to Enlarge Name: 23Sep16 -Crude ending daily.jpg Size: 302 KB
  • #903
  • Sep 23, 2016 3:28pm Sep 23, 2016 3:28pm
Quoting ItsAtrap
Well here's all my long trade managed to make me. A lousy buck and some cents. I entered on the 21st, on the break of the highs of 20 September. Yesterday, a partial take-profit was triggered at 47.42 and stops on the rest of the position were moved to break-even. I was hoping for a further run north, but instead today the price reversed and took out my stops. Oh well. The only position I carry over this weekend is my EUR/GBP longs. {image}
news event weekends can be brutal. they destroy all logic and charting patterns.

btw, which broker do you use? how are the roll over fees for holding over the weekend?
  • #904
  • Sep 25, 2016 9:22am Sep 25, 2016 9:22am
anyone here got an insider information with Arab's oil minister? Lol...
  • #905
  • Sep 25, 2016 4:29pm Sep 25, 2016 4:29pm
Quoting kweiss10
{quote} news event weekends can be brutal. they destroy all logic and charting patterns. btw, which broker do you use? how are the roll over fees for holding over the weekend?
Mainly Oanda's European platform. For rolling over the weekend we just pay the interest rate differential
  • #906
  • Sep 25, 2016 4:45pm Sep 25, 2016 4:45pm
If Monday's action forms a small trading bar with a low that pokes below Friday's low, it might set up a nice new long entry opportunity on Tuesday with a break of Monday's bar highs. Let's see what the price wants to do
  • #907
  • Sep 26, 2016 5:54am Sep 26, 2016 5:54am
Quoting ItsAtrap
If Monday's action forms a small trading bar with a low that pokes below Friday's low, it might set up a nice new long entry opportunity on Tuesday with a break of Monday's bar highs. Let's see what the price wants to do
it is going to be a cup. or a cooker. depends on timeframe.
  • #908
  • Sep 27, 2016 4:51am Sep 27, 2016 4:51am
so what does anyone think about the triangle on a daily timeframe?
  • #909
  • Sep 27, 2016 8:55am Sep 27, 2016 8:55am
Quoting shnackattack
so what does anyone think about the triangle on a daily timeframe?
daily suport works as we can see. i think it is unlikely to be broken today. probably tomorrow after official confirmation ''freeze will not happen - opec and nonopec nations will be working further on market stabilization"

my opinion, price might go down to 40 in a month. in case 40 will be broken - 35 the next target.
  • #910
  • Sep 27, 2016 10:59am Sep 27, 2016 10:59am
Quoting shnackattack
so what does anyone think about the triangle on a daily timeframe?
Seems like a consolidation after the uptrend on the daily was broken?

Will the trend resume? Hard to trade the daily with diminishing volatility.
  • #911
  • Sep 27, 2016 2:50pm Sep 27, 2016 2:50pm
So my system signalled a short on Brent Crude today, which is contrary to my longer term directional bias for price to reach 60ish. Still, a signal is a signal so I took the trade and record it here. I do not like the fact that the entry level is around the middle point of the range of the last few weeks. I am not a fan of entering in the middle of ranges. But I took it this time.

I entered short on the break of yesterday's lows (yellow level). Price is still hovering at the entry levels as I type this.

The stop is just above yesterday's highs (red level).

The targets are the green lines. I may adjust the first targets if I am still in the trade by this time tomorrow and price action allows me to lower the stops.
Attached Image (click to enlarge)
Click to Enlarge Name: Crude 27Sep16 short.jpg Size: 188 KB
  • #912
  • Sep 28, 2016 1:41am Sep 28, 2016 1:41am
http://www.transconflict.com/2016/09...w-prices-289/?
this is what I am thinking about as well..
  • #913
  • Sep 28, 2016 8:50am Sep 28, 2016 8:50am
see what oil intentories figure brings in 40 min
  • #914
  • Sep 28, 2016 8:54am Sep 28, 2016 8:54am
Anyone know what time OPEC will be releasing statements today?
  • #915
  • Sep 28, 2016 9:07am Sep 28, 2016 9:07am
Quoting kweiss10
Anyone know what time OPEC will be releasing statements today?
at 10:30 EST
  • #916
  • Sep 28, 2016 11:41am Sep 28, 2016 11:41am
Today's low might make a good trigger to enter short (or add to existing shorts) if broken tomorrow. With a stop above today's highs. Will revert to this once NY is done trading for the day
  • #917
  • Sep 28, 2016 12:06pm Sep 28, 2016 12:06pm
Quoting ItsAtrap
Today's low might make a good trigger to enter short (or add to existing shorts) if broken tomorrow. With a stop above today's highs. Will revert to this once NY is done trading for the day
agree with you. but news coming opec may announce deal thesis still today. can be up to 48, if breakes - 49..
  • #918
  • Sep 28, 2016 1:25pm Sep 28, 2016 1:25pm
I don't pay attention to news so I do not know about OPEC etc. Got stopped out of my shorts and reverse to long got triggered. Interesting. Let's see how it goes. 1st targets are just below the top of June now. Quick chart. Stops now below yesterday's lows
Attached Image (click to enlarge)
Click to Enlarge Name: 28Sep16 -Crude stop n reverse long.jpg Size: 169 KB
  • #919
  • Sep 28, 2016 2:11pm Sep 28, 2016 2:11pm
Crude longs have been triggered on the weekly time frame for me now, with the break of last week's highs. I take larger positions on weekly triggers. 1st targets initially at 55.00 (2x the risk, with the stop initially just below last week's lows).

It's not the best looking trigger of this type for me, but I take it.

Chart for reference
Attached Image (click to enlarge)
Click to Enlarge Name: 28Sep16 CRUDE weekly long trigger.jpg Size: 146 KB
  • #920
  • Sep 29, 2016 8:37am Sep 29, 2016 8:37am
Is it me or are there too few crude oil traders here on FF?

She can really move with good swings
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