FX:USOIL   Crude Oil (WTI)
5942 56 78
I've started to post an Energy / Stock / Metal Trade for the followers to trade.
I will post the update in the "update status" section of the portfolio post.
Starting capital is 10.000 $ in each portfolio. When I close the actual trade I will move the whole amount to the next trade - in this case it will be Energy trade X.


I moved 10.000$ starting capital+10.371$ profit and the rest of the opened positions:
100 ERX long 24,17$
100 ERX long 27,76$
100 ERX long 27,93$
50 ERX long 28,22$
1000 ARP             long 0,8$

Comment: I'm going to play OIL's possible daily cycle top with a small short position:

Selling 100 US Crude August 2016
Price: 49,69
TP: 44$
Comment: I might take profit on ERX positions today or tomorrow.
Oil looks topping to me.
Comment: Selling 100 US Cude August
Price : 51,70
TP : 44$
Comment: Selling all ERX positions (350) at 31.82.
Comment: Total position:
1000 ARP long
200 US Crude August 2016 Short
Comment: It seems that ERX exit yesterday was a good idea. We jumped out near to the top.
I'm planning to reenter into ERX when oil prints the DCL. (ERX at 26$ maybe?)
snapshot
Comment: As this level is a possible spot for the DCL.
Closing 100 US Crude August at 47$.
Comment: I will set a stop at 48.1$ for the 100 US crude.
I don't think we should break above the crosing 10 & 20 EMA.

We are bouncing and RSI left overbought if we hold this the DCL is done.
Trade closed: stop reached: I didn't update oil but we reached the stop.
The August oil was stopped at 48.9 on my account yesterday morning when we had the swing
Comment: Profit/Loss Calculation

LONGS
100 ERX 24,17 ---}31,82 765$
100 ERX 27,76 ----} 31,82 406$
100 ERX 27,93 ---} 31,82 389$
50 ERX 28,22---} 31,82 180$

SHORTS
100 USOIL AUG 49,69---}47 269$
100 USOIL AUG 51,7 ---} 48,9 280$

Alltogether:
2289$ profit

Energy trade total capital:
20.371$ + 2289$ = 22.660$
Comment: Moving on to Energy trade 3
It will be a NatGas short
WIll post in 5 minutes.
Do you think OIL will continue to rally here, or just a short-term bounce?
Reply
What is your future projection on oil?
+1 Reply
Morning Sir! I think we may have a pullback to 49-50 and then a decline to 40-43. They made 5 figures down in 8 days, I had spreads of 5-6-7 Cents on WTI and up to 10 Cents in Brent. Don´t think many people are trading oil now but the sentiment is still highly bullish...
On another side, there should be one last play for Brexit. Even if on a weekend we have the news. There should be a sharp decline and then an ascending. Same as Doha stuff but probably with even bigger movements up and down....
Reply
Are you speaking about approximately 50 days cycle?
Reply
50-60 trading days/ daily cycle
Reply
dp chartwatchers
Thanks. Hidden daily divergence spells DC too.
Reply
So do I understand you correctly. In your analysis DLC for oil could be 44 or 42, but because it COULD also be here around 46 you are choosing to close your ERX positions for safety. ? Is this correct?
Reply
Greetings friend. We bounce of 50 EMA area. Do you think this could be bottom? How far up would we need to spike up to validate bottom in and ready to go higher? Where is next stop down if we continue?
Reply
I disagree, we must see 44$ :p. No, but seriously I think with this dollar strenghten, would be a day more, tommorow will be good day a final decline and till brexit should hover near lows.
Reply
Arpi, shorts got taken out by Sl last night and I missed this first move down. Would be great if you find it advicable to jump in somewhere, since it's such a big move!
+1 Reply
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