Archive for the Oil Category
Unfortunately we suffered another loss trading oil last week - this time a countertrend trading Oil. We've not been having much luck lately :(
The trend was down but you can see that there was some support which had formed around the 9200 mark. I had gone long Crude Oil at this point expecting a move up to 9400 and beyond. The market did move a little bit up from my trade the following day but the following day, it fell hard, our stop was hit and I was nursing a 100 point loss.
Counter
March 3, 2013
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The other trade which I had tweeted out last week was my long Crude Oil trade. Once again, you can see that there was a strong bullish pin bar showing that the buyers were in force. As a Daily chart trader, I entered my trade on the close of the pinbar (ie right at the top of it). The market over the next few days then sank and didn't look very well. In fact, the price action sank as soon as I went long and price dwindled pretty much at the base of the pin at the 9500 level. I pretty much lo
February 11, 2013
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I'm making some changes on the blog... I'll post live updates on my Twitter feed, for those who would like to follow, the address is http://www.twitter.com/makemoneyalan and then I'll post afterthoughts on the blog to talk about why I entered the trade and analysis.
So for those that did follow my Twitter account, you would have read that I went long on the Crude Oil (January) contract at a price of 8769 on the 21st November, taking my entry from the Daily chart which looks like this:
November 24, 2012
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