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Oil Trade – going up so far….

Oil Trade - going up so far....

So after contemplating whether to put on the trade last night, I entered at 9652. The market has moved higher but not with any particular strength as yet. I'm currently around 70 points up at this stage but am looking for a 200 point gain with this trade with my target at 9852. Another target could be also just below 10000.. I've got to see how price action goes for now... The highest for the day was 9769 which would have been a 117 point gain if one managed to take profit at this level....

May 10, 2012 No Comments Full Story

Oil due a Bounce?

Oil due a Bounce?

The markets have taken a bashing lately and right now they look a little over-extended to me. If you look at oil right now (daily chart above) you can see that it has made a base (price has bounced 3 times at this level). Support at around the 9550 level. If you draw a horizontal line back from here, you'll see that this was a previous area of support and if the big boys were to come in, this would be a good point to. Still, with markets, you can never be sure and going long here could be li

May 9, 2012 No Comments Full Story

The Euro off a Resistance Line and a Pin Bar Pattern – Recipe for a Sell trade

The Euro off a Resistance Line and a Pin Bar Pattern - Recipe for a Sell trade

On the 26th evening, I checked the markets for longer term Position Trades and I saw this and got quite excited! This was the Euro (EURUSD) and you can see that the price action had bounced off the resistance line.. the pin bar pattern on the daily candlestick showed some healthy selling.. the market is going down! I shorted at the close of this candle with a target towards 13000. My stop was just above the tail.. the red horizontal line marked stop. I was going to leave this and just wai

April 27, 2012 No Comments Full Story

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