If You Can Draw A Straight Line . . .

Status
Not open for further replies.
Quote from niko:

G, thanks for remembering, I am still in oil, there is something about NQ i have not been able to decipher (dumbass me). My main reason to trade oil, is because it was the only thing ai have studied with enough work to give me confidence in taking a trade, I am a fearful fella, :(.

Now, as db pointed out once oil trends are scarce, and oil ussually has >50% rets, so the things i have done to try to get money out of it differ a little from what is ussualy posted here, if anyone wants to hear an opinioi will be happy to provide what my little experience has to offer.
More...

Niko,

Do talk about your Oil trading. I'm an oil trader as well. I can talk about my limited experience trading oil as well.
 
Quote from Crude Man:

Niko,

Do talk about your Oil trading. I'm an oil trader as well. I can talk about my limited experience trading oil as well.
More...

Yes, gentlemen talk oil. If this thread should be kept separate start a new thread "Oil talk"
 
Quote from Gringo:

There's nothing wrong with exiting where you did around 80. In fact for those who are new to pure price movement at times it is better to be free from the fear of price going against them. Once you start getting more confident about your abilities the giving back of some of the gain for even larger gain won't be as fear inducing. Please keep training and also remember that you can always 'choose' to re-enter. There is no right answer as to whether it's better to exit and re-enter or continue to hold. The real answer lies in what you feel comfortable doing and that's where your plan and testing comes into play.
More...

Gringo,

Thanks for the kind words and advice. :)

YM
 
1-min is showing a hinge. Is anyone going to play it!

attachment.php


Gringo

Edit: The breakdown failed so lets find out if there's juice to the upside.
 

Attachments

Quote from slugar:

Is a hinge the same thing Brooks calls a wedge?
More...

Don't know. It's the way price is moving that matters. Hinge, wedge, triangle, sqashed square on the right side. Price starting from wider swings in getting tighter and tighter and that's all you need to know.

3099 was rejected. If price fails again to go above 3099 or 3100 it would show weakness and may trigger a short.

Gringo
 

Attachments

Price refusing to drop and bouncing around 3095-96. Shorts become cautious or exit outright because it didn't go down as anticipated.
 
Price is just consolidating around 3097. May push up beyond 3099-3100 area or start dropping. I am not much of a fan on intra-day and my head's already tired from typing and looking at price and also being at work doing other things.

The thing to note is how the lack of drop in price after the call for short was taken as a hint to exit by reading price behaviour instead of letting price take our stop out.

Price is firming up around 10:41am EST and may attempt to push up but as I said it was just a bit of a demo demonstration and even that I'll just post one more chart to show what's happening.

Price is pushing upwards and looking strong so far.

Gringo
 

Attachments

Status
Not open for further replies.
Back
Top