Posts Tagged oil trading
I want to start off buy saying that I receive a message from a reader today, it read "Hi Alan, I saw your analysis of the Crude Oil market on Friday and decided that it was a good time to get in so I went long. I got in at 84.05 and when the markets opened on Sunday, I was already 200 points up! I took profits! Thank you so much!"
The first thing I want to be clear is that my analysis is not a recommendation to trade.. it's purely educational and if you do trade, it is off your own back! As y
June 11, 2012
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I'd thought I'd bring the above chart to your attention. It is the Crude Oil in the Daily timeframe. I'm wondering if it's poised to move upwards.
My thinking is that there is a pinbar.. a fairly strong one too where the close of the bar is right at the highs of it showing strength. Also, the low is a higher low than previously which is the possible start of an uptrend. The market has been in a long decline and is severely oversold. However, saying all this, we must also bear caution as
June 8, 2012
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You remember the trade that I put on the other day. The disappointing thing is that the support which we had identified didn't hold and the price action crashed through it and took out my stop for 140 points.
Disappointing, of course, but in trading you have to expect these losses. As a trader so long as each maximum loss is your defined percentage loss (in my case 2%), it doesn't matter. I was able to stick through my plan and it didn't come off. I was talking to some other trader friend
May 16, 2012
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