Technician
Short

USOIL: Short at Potential Resistance

FX:USOIL   Crude Oil (WTI)
2920 48 29
Update: Trade is active

I shorted WTI crude few hours ago

-Three-drives pattern
-Major horizontal resistance
-50-days Simple moving average
-Overall trend remains bearish

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Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
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Technician
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Also shorted it at that area! Lets see how it plays out =D
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Welcome to the bandwagon mate
+3 Reply
Daniel.B Technician
:-D
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Me too
+1 Reply
Daniel.B aburayanfx
Welcome to the bandwagon also! =D
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I thought US Dollar coming down from recent uptrend would help Oil.
+4 Reply
Update: Trade is active
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and US Dollar is rallying. +1
+1 Reply
Technician TOP QuantitativeExhaustion
Yet crude oil is resilient :| . Lets wait and see
+1 Reply
snapshot


Does not want to give up pattern
+2 Reply
Technician TOP QuantitativeExhaustion
Yes mate, so far no bullish breakout. So I am still in the game
+1 Reply
I'm getting closer to taking a small capital big risk play. USO 16.5 weekly
+1 Reply
GumerShafigulin QuantitativeExhaustion
Are you waiting for the moment to short oil with a big leverage?
+1 Reply
yes, that's the plan
+1 Reply
GumerShafigulin GumerShafigulin
You trade US oil fund? Stock, options Or smthg else?
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So far I am. I haven' closed my negative position yet.
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snapshot


Well glad I waited for signals
+1 Reply
snapshot


Also DC still connected to upperband
+1 Reply
Looks like Technician got stopped out.
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Technician TOP QuantitativeExhaustion
well, not yet, but very close to :|
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Technician TOP Technician
now stopped..
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I'd be interested hearing your thoughts on US Dollar? / published chart
+1 Reply
GumerShafigulin QuantitativeExhaustion
I covered my position.
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Technician TOP GumerShafigulin
honestly, i haven't closed my position on my account yet. I will wait for todays closing. http://s10.postimg.org/eh0df4qyh/Capture.png
+1 Reply
:)
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Technician TOP QuantitativeExhaustion
Sure mate, will try to publish soon
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GumerShafigulin QuantitativeExhaustion
So you say the up trend wil stop aprox $52. Am I right?
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I bought, already fixed profit
OIL MORE UPSIDE POTENTIAL
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so?
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HiTech PRO Technician
The rally up has very high probability at this point, the breakout of the long term trendlines confirms that at this point
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Well, could be the case. But am still short .
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Bivekon Technician
Thank you for sharing, could you please share your updated stops, thank you very much!
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I don't have a specific stop loss in mind yet, i want to see more stability above 49.00 level to close my position. I will update here on the progress of the trade.
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aburayanfx Technician
Could you please advise me where i should stop ?
My average price 48.8
Thx
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Technician TOP aburayanfx
The point is every case is different. It depends on how much exposure you have. I my self had a relatively small position so i can withstand some more upside. My self, i want this area to hold, otherwise i would exit. I dont have a precise stop for this trade, if i see multiple four-hour candles closing above that area i will exit.
snapshot
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Technician TOP Technician
snapshot
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aburayanfx Technician
i take 3 lots buy stop 49.05 closed 49.73
i am looking for the price to get down,
Thank`s
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Technician TOP aburayanfx
Good to know aby rayan, show your trades if your doing good.
+1 Reply
oh yeah, Saudis and gulf countries declared military strikes against in Yemen. That's shit..
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Technician TOP Technician
That's what unlucky means
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aburayanfx Technician
again i take 3 lots 50.05 buy stop but i will never close it.
Thank`s Technician
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Don't you think it is the very time to short oil sir?
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GumerShafigulin GumerShafigulin
my question is addressed to TechniCiaN
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Does anybody knows a real quality trading signals subscription?
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Crude was temporary boosted by geopolitical event, yemen war. I didnt close my short even when it rallied coz i think i will close a better price. I will close at 98.40.
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Technician TOP Technician
however, i suggest that you always keep your stops in place, this was a special case and i had a clear view about it.
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Technician TOP Technician
Ok i am OUT FINALLY. What a ride!
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Did you mean 40.98?
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