"Just Oil"
Member Since Jan 14, 2010
2299 posts
Jul 22, 2011 at 15:13
(edited Jul 22, 2011 at 15:13)
I have more lines in there but this channel is present too. I am banking that it gets at least to the middle of the channel to PP. to close one position and see if the second still runs where I expect. my stop is at 99.60 for both positions with entries 99.36 and 99.25
Member Since Jan 14, 2010
2299 posts
Jul 22, 2011 at 15:13
let's see how things will go.
Member Since Jan 14, 2010
2299 posts
Jul 22, 2011 at 15:15
I usually do not like and do not take such channels break outs to downside.
Member Since Jan 14, 2010
2299 posts
Jul 22, 2011 at 15:32
stopped.
Member Since May 21, 2011
47 posts
Jul 22, 2011 at 15:45
Looks like we have a hit to the upper channel.
Chikot, if you dont like to trade channel breakouts, what do you trade then? Price action meaning bounce of support/resistance, price formations (converging triangle, double bottom/top, etc) ?
Chikot, if you dont like to trade channel breakouts, what do you trade then? Price action meaning bounce of support/resistance, price formations (converging triangle, double bottom/top, etc) ?
Armada Markets 5% discount, Axitrader $1.50 discount, IC markets $1.50 disc, LMAX 12% discount, Price Markets 5% disc, FinFX (accepts US traders) $0.7 ECN disc, Global Prime $1.50 discount, SynergyFX $3.50 discount, Blackwell Global $6 rebates - Abundance Trading
Member Since May 21, 2011
47 posts
Jul 22, 2011 at 15:48
i usually wait for price to test the channel again upon breakout before going in
Armada Markets 5% discount, Axitrader $1.50 discount, IC markets $1.50 disc, LMAX 12% discount, Price Markets 5% disc, FinFX (accepts US traders) $0.7 ECN disc, Global Prime $1.50 discount, SynergyFX $3.50 discount, Blackwell Global $6 rebates - Abundance Trading
Member Since Jan 14, 2010
2299 posts
Jul 22, 2011 at 15:48
yep, testing it. I am not bullish anyway. not today. potential is not that big. yesterday top was 100.16. what chances it gets broken today . guys need to make $$$ and go home till Monday. waiting for failure to break.
Member Since Jan 14, 2010
2299 posts
Jul 22, 2011 at 16:08
stopped on BE too. it was kind of fast but bounced form one of my trendlines. still waiting.
Member Since May 21, 2011
47 posts
Jul 22, 2011 at 17:38
Bounce off upper channel, retest confirmed, look to go long.
Armada Markets 5% discount, Axitrader $1.50 discount, IC markets $1.50 disc, LMAX 12% discount, Price Markets 5% disc, FinFX (accepts US traders) $0.7 ECN disc, Global Prime $1.50 discount, SynergyFX $3.50 discount, Blackwell Global $6 rebates - Abundance Trading
Member Since Jan 14, 2010
2299 posts
Jul 22, 2011 at 18:28
will wait for Monday.
Member Since Jan 14, 2010
2299 posts
Jul 25, 2011 at 10:43
Nice shorting trade. closed just at previous daily low. will 98.75 hold or not. Might be a good run.
Member Since Jan 14, 2010
2299 posts
Jul 25, 2011 at 18:16
+0.46% today. Missed good long trade but overall ok.
Member Since Jan 14, 2010
2299 posts
Jul 25, 2011 at 22:49
was playing demo in between trading real.
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Member Since Jan 14, 2010
2299 posts
Jul 26, 2011 at 11:42
Volatility has been steadily going down for days.
It's consolidation. The longer it consolidates the stronger will be the next move.
It's consolidation. The longer it consolidates the stronger will be the next move.
Jul 26, 2011 at 12:05
(edited Jul 26, 2011 at 12:05)
Perhaps, on the 4hr and hourly, yet the daily is still bullish. But as we are not breaking 100 yet, I'm beginning to feel like a big bad BEAR that will play with the bulls at the appropriate levels.
Live to trade another day...
Member Since Jan 14, 2010
2299 posts
Jul 26, 2011 at 12:14
I have same feeling. This is the reason I am getting up at 3:00 a.m. EST. Usually, those moves start at this time. The longer it cannot break above 100 the harder it can fall.
Member Since Jan 14, 2010
2299 posts
Jul 26, 2011 at 13:32
Went small size long, killed, shorted, nice short, unfortunately closed after it bounced form PP. now short again. picked 25 pips on one position and stop to BE left another one run.
