Technician
Short

Oil and Copper Diverging (Trade Setup)

FX:USOIL   Crude Oil (WTI)
359 7 4
Update: stopped out again on oil             . Strategy not working right needs reviewing.
Profit(pips)= -100x2= -200.


Analysis behind the trade here

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stopped out again on oil. Strategy not working right needs reviewing.
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looking at the 1,2,4 hour chart here.....I wouldnt be surprised if it heads up from here mate. stochs are all over sold....but you know yourself they could dig in undersold for a while.
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made 50 pips...thats me happy....4 mins work today! thinking of getting back in here for a short at 97.20 but dont want to be greedy
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I was 4 pips off the 98.00 short trade - dam!! Getting in at 96.40 for a bounce of 30 pips. Will be interesting to see how strong 96.40 is anyhow.
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Technician TOP BETTIEPOOP
I need a break below it (96.40) now, to confirm another leg lower !
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Technician.. curious to know. Is your correlation between crude and oil solely based on the chart patterns or is there a fundamental basis to the correlation as well?
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Technician TOP justatrader
Solely based on chart correlations. Haven't dug into the fundamentals behind the correlation.
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