Posts Tagged crude oil

Why I shorted Oil last week

Why I shorted Oil last week

I shorted Oil (WTI Crude) last week and unfortunately the trade went against me and I lost 200 points. Unfortunately, in trading this happens but over the long term I expect that I will win more trades that I lose so it doesn't bother me too much. Anyway, here's the reasoning behind the trade. If you look at the weekly trade, you would see that the 10600 level actually was a strong support and resistance line in the past. Where I have green arrows you can see how the price had reacted

July 21, 2013 No Comments Full Story

Crude Oil Trade left without me

Crude Oil Trade left without me

Last night, I had put on an order to buy Crude Oil at 88.50. There was a nice bullish pinbar and I thought that we would see a retracement before a further move up since the bar was already so bullish (strong moves usually mean a pullback somewhere before further moves). The price action was strong and it didn't retrace at all and moved a further 200 points up. Unfortunately for me, it meant that my buy order wasn't trigger and I missed the action.  

April 24, 2013 No Comments Full Story

Trading Crude Oil – from Profit to Loss

Trading Crude Oil - from Profit to Loss

This is what happened from trading crude oil. The trade was opened last week and the blog entry for it is here: http://www.makemesomemoney.co.uk/days-of-negative-price-action-on-crude-oil/ This is another example of when holding out for larger moves doesn't work out and is therefore making it hard to justify this way of trading. This week, two trades were stopped out and both in loss when if I had followed my previous way of closing out trades I would have been in profit. The chart is b

February 17, 2013 No Comments Full Story

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