Posts Tagged oil
Another interesting chart I have is the daily Crude Oil price. You can see that there is strong resistance and the market has failed to get beyond this point. This could be a potential selling opportunity. The only thing about Crude is that it is very volatile and you need to be very careful with it.
The market is currently closed but when it opens I'll see what the market looks like and may even short it...
Will keep you updated!
August 9, 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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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
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