Posts Tagged daytrading

Crude Oil looks good for a short setup

Crude Oil looks good for a short setup

Below is a picture of the Crude Oil price chart... ok, at this level it doesn't look that interesting... But if you zoom in a bit more... This is what I am seeing. The price made a high at A but fell rather strongly.. it even fell through the support line shown where it found support a bit lower down. However, confirmation of the support line which becomes resistance via the pin bar shows that sellers are now present here driving the price down. The price is right on support but

September 25, 2012 No Comments Full Story

DOW looking ripe for selling?

DOW looking ripe for selling?

The DOW looks like it's reached a top, a triple top in fact... in the 4 hour chart below, you can see clear resistance where the market has bounced off this showing a pin bar. Looks like there are strong sellers here in the market and a potential place to go short. I have put on a sell at 13560, looking to take this 50 points down to 13510 (which is just above the support level you can see). 50 point stop also. This is a risk of 1% on my account.

September 24, 2012 No Comments Full Story

DOW trade update – 140 points up so far….

DOW trade update - 140 points up so far....

For those who read my last post, you would have noted that I had shorted the DOW when it failed to remain above it's previous high. To me, this showed weakness in the market and a good chance to sell. I had a 140 stop on the trade and what is interesting now is that the profit on my trade now is 140 points.... if I close now, I'll have a 1% gain on my account in the bag which would be nice. I am actually holding out until around 13000 which is another 70 points away but it also depends on wh

August 23, 2012 1 Comment Full Story

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