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Trading Crude Oil with price action + indicator

  • #921
  • Sep 29, 2016 8:45am Sep 29, 2016 8:45am
Quoting limzy
Is it me or are there too few crude oil traders here on FF? She can really move with good swings
you are not alone here
she is heavy weight jam - not for everyone's taste. and teeth
how long you've been trading it?
  • #922
  • Sep 29, 2016 10:37am Sep 29, 2016 10:37am
Quoting RiderKBP
{quote} you are not alone here she is heavy weight jam - not for everyone's taste. and teeth how long you've been trading it?
Hi Rider,

Been eyeing it for awhile but only started heavily trading it recently.

No track record to boast of but managed to get that 200 pip swing overnight ytd.

Currently riding her up again. To infinity i hope hahaha

Good trading and green pips to you.
  • #923
  • Sep 29, 2016 2:07pm Sep 29, 2016 2:07pm
Quoting limzy
{quote} Hi Rider, Been eyeing it for awhile but only started heavily trading it recently. No track record to boast of but managed to get that 200 pip swing overnight ytd. Currently riding her up again. To infinity i hope hahaha Good trading and green pips to you.
thanks, mate. same to you!
i have quite similar situation with trading brent - several wins, several loses, overall ~+10% monthly.
but i must confess i've learned twice as much during 1 month of trading on real vs 1 year trading on demo
this is much more valueable i guess.

50 tested, now retracing. next levels: Aug high - 51.1, June high - 52.8.
i think there is potential to reach 55-56 soon if there is no any Deal negative news.
  • #924
  • Sep 29, 2016 6:24pm Sep 29, 2016 6:24pm
OPEC output cut, oil bullish guys
WaBaS Where are Buyers and Sellers
  • #925
  • Sep 30, 2016 2:03am Sep 30, 2016 2:03am
Hello guys. Not much to update. Took just over a buck profit yesterday on part of the position and moved stops on the rest of the position to bit above the entry price, but since then the price is creeping back down and closing in on my stops.

I am also in some other positions now, will post charts in relevant threads.

Friday and end of month often = erratic moves
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  • #926
  • Sep 30, 2016 5:56am Sep 30, 2016 5:56am
Quoting JimmyC
{quote} I looked at this weekly view a while back and just pulled it up again... I think this is, in fact, a bullish signal, I'm looking for upside but I don't have a signal, let's see. {image} Trade safe!
I'm holding long out of this... lets see... OPEC sent the right signals...
will buy dips....

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  • #927
  • Oct 3, 2016 3:24am Oct 3, 2016 3:24am
Hello. My entry of last week survived the end of the week by 11 pips and is still going. Now about 2 dollars higher than the entry price, but my first major targets are still some way from here. Will it reach them, or will it die trying? Only the crazy crude knows
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  • #928
  • Oct 4, 2016 3:00am Oct 4, 2016 3:00am
Attached Image (click to enlarge)
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practising coitus interruptus
  • #929
  • Oct 4, 2016 4:23am Oct 4, 2016 4:23am
Quoting Mian1
hi don555 best you trade on 1hour chart.i trade on i hour chart and less risk . AND BEST NOT TRADE ON NEWS OR DATA. IF YOU WANT PROFIT TRADE ON TECHNICAL. {image}
Hi, I use something similar but I use 34 EMA CLOSE HI LO, what are your settings?
Prince M. Golds
  • #930
  • Oct 5, 2016 6:45am Oct 5, 2016 6:45am
Well, not much to update here.. am still long based on the weekly setup I posted earlier. Price will probably soon accelerate its move up, if it keeps climbing

Stops still at same level, which is break-even. I will revised them only after the week closes, if I am still in the trade by then and the market hasn't back-stabbed me!
Attached Image (click to enlarge)
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  • #931
  • Oct 5, 2016 8:08am Oct 5, 2016 8:08am
Quoting JimmyC
{quote} I'm holding long out of this... let's see... OPEC sent the right signals... will buy dips.... {image}
Brent Crude:
Supposing the present bullish trend breaks the consolidation area and trades above the first target @54.53, then the next bullish target is 63.10 and the technical pattern which might be in play calls for a final target of 77.21
The only issue presently notable is that Brent Crude has shown strength during dollar strength. Mix in the OPEC meetings, latest inventory numbers, and the picture continues to be bullish for the medium to long term.

I remain comfortable to hold positions long only and do not see a reason to short.

Attached Image (click to enlarge)
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Trade safe
  • #932
  • Oct 7, 2016 6:01am Oct 7, 2016 6:01am
Hi all, new to trading forums, but have been trading since 1992. I had a 2year break recently due to health problems, I'm not a young guy anymore. But for what it's worth, I heard a guy on an American financial program say that by 2020, crude will trading at around $12....yikes!
  • #933
  • Oct 7, 2016 8:46am Oct 7, 2016 8:46am
Quoting Pagenturm
Hi all, new to trading forums, but have been trading since 1992. I had a 2year break recently due to health problems, I'm not a young guy anymore. But for what it's worth, I heard a guy on an American financial program say that by 2020, crude will trading at around $12....yikes!
I agree with that prediction. For me, I do not think any amount of investment will be able to terminate the supply of oil from diminishing in the near future. When that happens, there will be pandemonium, and the worldwide economy will be badly affected even forced to start diminishing from less work getting done and that will also most probably threaten the entire over leveraged global financial system. And as we know, Banks will also be affected, because they aren’t designed to function for long in a bad economy.
  • #934
  • Oct 7, 2016 9:41am Oct 7, 2016 9:41am
Do you see oil nudging upwards a bit more in the short term or do you think it is liely to start falling very soon?
  • #935
  • Oct 10, 2016 3:14am Oct 10, 2016 3:14am
Hi all

Very new to trading, currently reading up as much as possible. Still on demo trading.

Any views on Crude today? Im leaning towards bull.

P.S - any links to useful sites like FF that will help further my education will be greatly appreciated.
  • #936
  • Oct 11, 2016 5:08am Oct 11, 2016 5:08am
Quoting Marvymarv007
Hi all Very new to trading, currently reading up as much as possible. Still on demo trading. Any views on Crude today? Im leaning towards bull. P.S - any links to useful sites like FF that will help further my education will be greatly appreciated.
If you put 'candlesticks' in FF search box then educational material will come up.

Also Price Action

A basic knowledge of Elliott Waves is also good to give you an idea of where the pair/stock is.
  • #937
  • Oct 11, 2016 6:36am Oct 11, 2016 6:36am
Quoting JimmyC
{quote} Brent Crude: Supposing the present bullish trend breaks the consolidation area and trades above the first target @54.53, then the next bullish target is 63.10 and the technical pattern which might be in play calls for a final target of 77.21 The only issue presently notable is that Brent Crude has shown strength during dollar strength. Mix in the OPEC meetings, latest inventory numbers, and the picture continues to be bullish for the medium to long term. I remain comfortable to hold positions long only and do not see a reason to short. {image}...
#OPEC wants #oil at $60 a barrel SEB Markets says, forecasting crude prices at $50-$60 until end-Nov
Graphic: @IEA
#Saudi #Brent #WTI #OOTT
Attached Image
  • #938
  • Oct 12, 2016 11:28am Oct 12, 2016 11:28am
Hello, quick update on my long Crude trade from a few days ago. Only updates are that I added some longs as last week closed (when in an uptrend, I like adding to longs at the close of scary bearish daily bars like last Friday's), and I moved stops so that I am overall with decent profit locked in. Nothing else to do than just sit and wait for hopefully continuation of the move up.
Attached Image (click to enlarge)
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  • #939
  • Oct 13, 2016 2:20am Oct 13, 2016 2:20am
anyone trade crude on a daily basis ?
  • #940
  • Oct 13, 2016 2:26am Oct 13, 2016 2:26am
If oil breaks current levels (49.73) consistently on the H4 chart then next stop is 48.65
"Bulls make money, bears make money, pigs get slaughtered"
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