"Just Oil"

Tried shorting gas and entry was perfect, However it is not the moment. I am quick to get out though. Was developing ideas about grains which did not work either. Huge disappointment sugar. I has been waiting for just this for 2 months. and missed the best entry. entered twice but due to worse places could not stay in this trade. so, decided to go flat 100% and wait. If I am right sugar is up to next big down leg. It is in huge long term down trend.
The interesting point is that for all commodities involved namely gas, cor and wheat reversal pattern to upside was similar. Nice entry for contra trend traders actually, very small risk. I was watching those levels and got out just in time. It is all about waves.
Freaking ping pong. Copper and platinum did not work either.
eur/usd while still in range consolidation whatever it might be up to something. will be watching.

As far as chart, I see Brend can go $39-42 and may be more. Which does not mean the down trend is over...
Basically I am waiting.

Trying to go up

Crude is not where I would like it to be to go short . Happily I have no attachment to crude at this moment. It is sugar and gas. But seems I am over the gas now. I have tried to short it from various levels but seriously, it is at $2. How far down it can go and considering PA stop should be pretty wide. Is there any reasonable r:r. i do not think it will go to $0. $1.5?
Sugar is different thing., I am sticking to this short despite entering a bit lower form daily signal, I am ok on weekly signal.
closed gas short again. i am down 2% on gas attempts alone. over have no idea how many trades.
The thing is, I am afraid of what market can do and trading futures for 3 years both demo and live really made me quick in running for exits. It is the only way to survive and fight another day.
Basically, I will stick to weekly chart ignoring daily. t is mostly very very choppy.
I have few trades from weekly coming. hope they will work.

So, we are in. i am worried a bit about wheat cause tomorrow are The News. The only news that matter for grain markets. 12:00-12:15 EST.

Another drop for WTI oil to the 28.00 level, a break of that zone could take oil a lot lower.

WTI with support at the 29.00 level. Bearish trend is still in place, possible visit to the 26.00 area again.

With an agreement to freeze production at jan 11 levels between the two largest oil producers. This pretty much write off any immidiate cuts. Many had hoped for an agreement that cut production.

WTI Oil keeps rallying to the 32 zone, but the bearish trend at the longer term is still bearish.

Freeze production from Russia and Saudi Arabia plus 2 very nice strong bullish daily candles showing up, this thing is ready to climb high!!

I am watching oil, but not yet.

I have to say that while many times my entries are absolutely fantastic my trade management sucks so far. i am looking for trade management rules. I was short eur/jpy, gbp/jpy, nzdjpy and closed all for small profit after price spiked against me. was +5% floating and now would have been some 8% floating. Definitely trade management rules is where I must concentrate.

One thing I am actually good at is money management and risk control.
Basically it is work in progress.
I have short term day trading psychology which was fine with futures considering size, but here I am always fearful of what market can do and close trades when see even slight DD.
I entered Bund long with small size. was cutting size due to losing streak.

I think oil might spike but the trend might be not over. hell, nobody knows when this thing turns. Nobody expected oil to drop form $100 to this low too. Trend of the year no doubt. and ruble.

alexforex007 posted:
WTI Oil keeps rallying to the 32 zone, but the bearish trend at the longer term is still bearish.

Concur.
PA shows it shrugged all bullish news. The question is about timing to short it.

Leclaireur posted:
Freeze production from Russia and Saudi Arabia plus 2 very nice strong bullish daily candles showing up, this thing is ready to climb high!!

Looks like that the news so far has not produced anything tangible. If price is not popping on bullish news it is going down. i am looking to sell. Need PA confirmation. it is consolidating now.

About 3% down on Friday.

It certainly hasn't broken out of its daily down trend channel yet.

following now this post!!! I'm new

I think it's all guesswork now.