About me"Most people get interested in trading but few make a real commitment.
The difference between interest and commitment is the will not to give up.
When you truly commit to something, you have no alternative but success.so Persistence...
Short Crude oil Brent
the idea is to short around Friday high level
Stop loss 42.60
Time in the trade 14days
Trigger :Friday close 41.40 if we don't trade at or below the close to the high from Friday
Market sentiment : bullish on the back of weaker dollar !
CAD is over.. and the Bank of Canada has decided to save its dry poweder for another day.
The benchmark rate remains on hold at 0.50% even as the central bank cuts its GDP forecast.
BANK OF CANADA MAINTAINS BENCHMARK INTEREST RATE AT 0.5%
BANK OF CANADA CUTS 2016 GDP FORECAST TO 1.4% FROM 2%
Long USD short CAD at market 1.4535...target around it could go...
based on the first idea.. where i went short at 96.46! and based on the change of trend... the DXY is once again bullish.. on the back of the current price action.
stop loss 94.00
Target 1 : 97.15
Target 2 98.50
Target 3 : 99.00
i was reading an article online and i saw this Wile E. Coyote storyyyy '' He routinely ran off of a cliff and as long as he didn’t look down, everything was fine. But as soon as he looked down and saw that there was no ground beneath him, he fell.'' it summarize perfectly the crude oil price action these days.
my first idea was to short around 71$ but it looks...
braking the 75$ support line.. we are in a downtrend... we could lose another 6-8 dollar before the OPEC meeting...
so the game plan is the following :
TARGET : dollars from today ~67
Timing : 2 weeks
Stop loss 76.50
Market Event : OPEC meeting on the 27 november.
Entry :Not so important, you can take it here 74.80 or 75 or a bit higher..
Short Term Target 103.50
Stop Loss 1ATR(20) ~1.134$
Target 1 : 103.50
Target 2 : 102.50
-new high at ~105 failed.
-Ongoing OPEC meeting have offered no surprises and we don’t expect the Cartel’s communique to exert much price impact.
Geopolitical Risk: increased violence in Iraq