Jump to content

Live foresight technical trade set ups ,analysis and results


Guest oilfxpro

Recommended Posts

Guest oilfxpro

Traders don't have time to waste  on useless analysis, which can not be traded.Please only post trades in advance, with analysis and results.

 

I like this oil set up (I won't trade it because I only trade 2 instruments).The price is sitting at resistance , it is challenging resistance.The only risk to this trade is the Euro usd is weak, dollar strength can push oil lower.

 

There is underlying strength in oil, it has strengthened , when Euro is weaker.It is bullish.

 

I would trade it with options.I will wait until I find a risk reward ratio that is good on options

 

oil.jpg

 

eur oil.jpg

 

oil options.jpg

Link to comment
Guest oilfxpro

The trade going in the right direction and behaving well.We have a human mind that is going to manage this trade.At this point  i feel comfortable to reduce my risk    and bring stop to 63.35  , just in case trade breaks down.

 

When you catch a trend, the idea is to run your profits.

 

Every Wednesday you have crude oil inventories.I use forex factory for calendar only.That is the only benefit of forexfactory.I would not go there.

 

https://www.forexfactory.com/calendar.php?s=67c06434ee2847ff166369466fc808fe

 

https://www.forexfactory.com/calendar.php?s=67c06434ee2847ff166369466fc808fe#detail=86215

 

The euro is holding above support.

 

I only trade two instruments, to control my mind  and let my mind be in control.trading too many instruments will cause psychological issues.Psychology is 95% of trading success.

 

There are not many traders who call trades in advance here , I only saw rimmy 2000 post decent stuff on this site.

 

Everything I post and state is to help others see the truth.I post lulz and hide the gems of information in lulz sites.

 

 

trade going.jpg

 

 

 

 

 

 

 

Link to comment
Guest oilfxpro

There is nothing wrong with taking a loss, if this trade breaks down, a losing has to be empowering to a good trader.The trader did everything right

 

What made me take this trade?

 

1)Price action behavior at resistance challenged the bears

2)trend in place

3)Fundamental strength in oil versus dollar strength , dollar is strong but oil is stronger.

 

Price action on it's own without fundamental strength will be a 50/50 trade , without a trend and fundamental strength.

 

Price action on it's own does not work.Fundamentals work on their own.

 

I used to trade oil many years ago, hence oilfxpro.

Link to comment
Guest oilfxpro

Yesterday's close price on nymex was 63.33 , that is the price consensus.It is possible this trade will breakdown and retrace to consensus.

 

Here is a extract from the oilfxpro oil trading method

 

  • Trading Oil - Compulsory filter
  • Trade only with momentum and strong trends only. Oil is not suitable for mixed and weak trends. Is trade valid?
  • Trade only in US session, after 13:30 GMT
  • Oil is a commodity that often rises when USD falls and vice versa. Look at USD index.
  • Also spreads are wider on Oil, so Oil is not suited to all Dollar sell offs or buy ups. Use lower spread pairs which are alternatives to USD.
  • Trending definition: prices must be above mas for longs or below mas for shorts on 30 MIN (with slope, channel and trend line).  
  • Do not trade Oil Dollar strength or weakness due to wide spreads on Dollar.
  • Look at Dollar index and GBP/USD, EUR/USD and USD/JPY - if these are weak do not buy; if others are strong do not sell.
  • Do not open new Oil position after 150 pips made in one day.
Link to comment
Guest oilfxpro

Oil can be choppy , an alternative is to trade directional option apreads.

 

 

An alternative to cash trading is buy option spread, if price expected to go up buy lower call sell higher call, if price expected to go down buy higher put sell lower put.

 

Example of call spread  buy 6550 for 157 and sell 6800 call for 52 , net risk of 102. Price expiry bellow 6652 will result in loss , price expirt above will give a profit above 6652  to 6800, a net risk of 102 for a reward of potential 148.

 

option spreads  crude.jpg

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • In the wake of a brewing conflict between the Nigerian government and Binance, cryptocurrency enthusiasts find themselves on edge, uncertain about the future of their digital investments. Rumors abound that Binance, along with other platforms, might be exacerbating the Naira's devaluation against the dollar, prompting the government to take a hard stance against the exchange. Despite longstanding allegations of wrongdoing, recent events have propelled the government to escalate its actions. The situation has escalated dramatically, with Binance's P2P platform disabled and a staggering $10 billion fine imposed for alleged illegal activities. This punitive measure, coupled with last year's $4.3 billion fine by the SEC, underscores the gravity of the situation. However, skepticism lingers regarding the astronomical sum demanded by the Nigerian government. While Binance has faced regulatory challenges in other jurisdictions, its resilience and market dominance have largely endured. Yet, the potential ramifications of losing access to a key crypto market like Nigeria cannot be ignored. Complicating matters further, the Nigerian House of Representatives has summoned Binance CEO Richard Teng, issuing a seven-day ultimatum for him to address allegations of terrorist financing and money laundering, among other charges. This development casts a shadow over the future prospects of Binance in the country. Amidst the uncertainty surrounding Binance's operations in Nigeria, users are scrambling to identify alternative platforms. While other centralized exchanges (CEX) remain operational within the country, the pressing question remains: which platform will emerge as the most dependable alternative should the situation worsen? https://punchng.com/reps-summon-binance-boss-over-alleged-terrorism-financing/
    • 2024 has been a good year for crypto traders with signs of a bullish market prevailing. For the first time in 3 years, we are witnessing BTC set a new ATH repeatedly. If you endured the prolonged bear market of the previous years, you deserve these gigantic green candles! In addition to BTC's incredible run, several alts have broken out nicely; Ai, memecoin, GameFi projects and so on have spiked. Most notably in the month of February is the run of CEX tokens. According to Foresight News, centralized exchange tokens boast of a widespread price spike in February, based on data from ICO Analytics. Standing tall amongst many is BGB with 62% increase, while ASD, BNB, and KCS witnessed gains of 45%, 33%, and 22% respectively. As a BGB holder myself who’s been holding since June 2023 at an average price of $0.45, it’s been an incredible journey. I’ve witnessed it smash its ATH over again, the latest coming in February when BGB set a new ATH of $1.15. Aside the juicy ROI, BGB usecases have been a flex for me, granting me access to exclusive events, like Launchpads where I’ve also managed mouth-watering gains from my participations. BNB had a remarkable run in the last bull cycle, sadly I missed out having sold mine for peanuts. If you said I’m stoked to right my wrong with BGB this time, you wouldn’t be far from the truth!  Which CEX token(s) are you keenly observing?
    • Look at the transaction log to see why, Most of the time it's because your stop loss is set too close. 
×
×
  • Create New...
us