Jump to content

Live foresight technical trade set ups ,analysis and results


oilfxpro

Recommended Posts

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 post

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 post

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 post

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 post

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 post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • General Statistics

    • Total Topics
      15,143
    • Total Posts
      73,174
    • Total Members
      61,488
    • Most Online
      5,137
      14/01/21 09:51

    Newest Member
    Sanjjay82
    Joined 08/05/21 07:12
  • Posts

    • Hi, Can anyone tell me what is it called when the broker stops any clients buying on a particular commodity/stock/indices etc.  To close a position you have to call IG.  
    • Yes. IG does trade against retail traders. IG also has a lot of institutional traders. If your are trading low volume stock or Singapore CFD equities, the dealing desk will manually lock your order for a good 30 seconds so that you cannot delete nor change the order price level for the 30 seconds when they there is another bigger clients want to unload.  I have been locked this way as many ast 4 times in the past and cost over SG$10,000 loss. When I called IG, it said the dealing desk manually lock my orders with an excuse they are putting my order on hold so that they hedge it on the Exchange. In the first place I trade CFD and CFD is internal market within IG environment and our trade does not affect the market. It is highly irresponsible to lock our order. My complaints to IG for compensation via calls and emails all went without any positive response and the replies from them are as stated above. CFD market is internal market and our order should not be touched by dealing desk at all time even if there is no liquidity to fill our order then our order should just be left unfilled. At no time our order should never be locked by Dealing desk. To me this is day light robbery. Secondly, IG has deployed internal algorithm to hunt your hard stop losses and also filled in your limit order with a spike to the dot before immediately move in the opposite direction big time. Thirdly, some time IG platform will freeze and unable to re-login back when you are in a trade. This made it extremely dangerous when we cannot see the price action on the chart. This had happened to me a few times. Fourthly, nowadays even if your platform freeze or has other problem on your trade, call to their dealing desk during US market opens 100% of the time no support or dealing desk will pick your calls. My phone was kept ringing for 30mins or more and many different days. This is again does not speak well of the kind of support IG gave clients. The only attraction I use IG is the ease of use of their trading platform. These kind of  underhand tactics above are played out in IG on daily basis which made our day trading very difficult to win. It is very visible if your trade the small time frame how IG's manipulations are done.     The above comes from someone who trade daily with IG for the past 3 years. I am even considering to stop trading through IG because of the above under hand tactics. Sometimes     
×
×
  • Create New...