"Just Oil"

Here is the daily fib with overlaps with at least three levels of congestion:

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i see you trade differently from what i am trying to do. i use no indicators and no Fibs.
i thought it would go further down today. but it even has not touched 94 so far.

it is ascending triangle now.
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All the same, I can make it a naked chart and trade it, you'd just have to use support and resistance levels. I look at a lot of things and the best overlap is usually the best triggers.

Price basically hit the weekly S1 pivot point to the pip and now is in the middle of the trading range. NYMEX volatility from now till 2:30 (2-2:30 the most volatility) should push price around 95.35, IF price can break above 95.05 (Having issues). Many times around 2PM you can look for a price action signal and take a nice 20-50 pip scalp.

so actually you would take 20-40 pips? I had few break out trades today with trades going up to 40 pips in my favor. I always try to catch more than I risk but it not always run as I hope.
I see that it is ranging now and do not want to take trade in the middle. waiting price to reach extremities at s/r areas.

are you waiting for candles close to enter or use moving candle?

If there is serious momentum I may preempt a candle, but by and large it's really not a LH or HL without the close, so that's my favor. One thing I do, especially when it's not seriously trending is good, at 25 pips take half off and let the other run.. you can always scale back in if it gets trending. Right now it's messy for sure!

but it seems must depend upon how much we risk, if I risk 30 pips, but if risk is bigger say 50-60 pips, taking partial at 25-30 pips doe snot look like going to work long term. i was even experimenting with not taking partial , just moving stop to BE and looking for more than than 1:1 R:R

got password and everything. account ready. will connect to myfxbook as soon as I start.

just added my live account to myfxbook. it can be checked by clicking on link below.

https://www.myfxbook.com/members/Chikot

practiced with Demo. same size as my live.
2.7% this week.
will however reduce size per pip to $0.1.

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You found a broker that lets you trade Micro's on Oil? Is that a mini contract? Where you trading that at? I've only been able to find 0.10 as the minimum bid size. I found one broker with a mini contract but it was hosed up.

You mean 0.10 of the lot? it would be $1 per pip. I can trade $0.01 = 10 cents per pip. It is FX Primus.

Thanks, it looks good.

Yes, Primus is ok company. I noticed demo tend to freeze once the volume is too big. But I also traded live and never had any problem.

started trading live.
Good entries however was too jumpy out of them. Should have had much more %.

Market is crazily slow. Most probably because of oil inventory news coming at 10:30.
Price is at important level. A lot of resistance above. Break or drop so to speak.

I scalped about 35 pips in 2 trades. it went already more than 100 after my short entry. I noticed that i am not very able to let profits run this week. otherwise I should have had 2-3 times more return. Can understand though. Today market was crazily choppy but I expected guys to run it down. Just could not say when. But after seeing what I was looking for, I shorted without any hesitation. no DD on these 2 trades. Unfortunately , closed too early.
Need to force myself to stay in trades in similar situations otherwise I see nothing wrong in taking even small profits. the point is to distinguish. It was obvious that we were at the higher part of the range and break out did not happen., The only way to go, down.

LOL, 130 pips down, now 130 pips up no stop. I think these dudes seeing that there were too much of resistance sold the stuff, the bought at cheaper price and I would not rule out break out today or tomorrow to 100.00. Will be interesting to watch.