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Live foresight technical trade set ups ,analysis and results


oilfxpro

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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

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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

 

 

 

 

 

 

 

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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.

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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.
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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

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