"Just Oil"

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.

arigoldman posted:
About 3% down on Friday.

I am doing nothing yet. It is messy.

I am worried about my long sugar trade. Entered upon few considerations especially momentum and previous 5 months up move and consolidation along with failure to take last week low on weekly and subsequent reaction. Need to see how market opens on Monday night. So far everything looked like possible trend reversal but who knows. Let's see.

arigoldman posted:
I think it's all guesswork now.

Yes, it is messy.
I need to look for better easier opportunities for now. I am short eurusd. Situation so far is also unclear but if it drops even to previous lows... I won't talk about parity still it would worth the risk.

I fighting burnng desire to close my sugar long outright. I hate when trade is not going as I expected. May be will take small loss. Or can close half position outright than watching how things will go and if it continues going against me I can close the rest. On the other hand, if that 0.1390-0.1400 level is taken to upside again I can add back closed half.
It is complicated. But I hate taking full losses. Made number of mistakes this week around cad. it was fortunate I did realize what was going on in time and closed all my positions outright. cost me a bit but otherwise I would lose 4-5%. so far, it is 1000 cuts. small losers.
Now the most important is to properly manage winners and cut losers short.
I am short all grains. having doubts about corn cause unlike beans and wheat it is still in the range. But , considering all grains are coming down logic has been corn should follow. I can close it today just to reduce possible risk a bit and free some margin for some other trades.

Oil is tricky!

fter the pattern archived: as I mention the last post- the pattern suggests the bullish trend, for the coming trading sessions, pointing that the prices creating a possible bullish pattern that its confirmation wti level situated at 39-40 $, from looking at the charts we can see also the resistance at 42-43 area
This pattern also suggests some corrections after reaching the target. Breaking down 36.20 followed by 35.10 levels will send the crude oil to cope with 33-34 $

Expecting a decline.