Tuna's Crude Recordbook

3 possible trades today, 2nd one profit booking at yellow circle (as RSI hit 30). Rest 2 (1st and 3rd) would have been scratch, all short no longs. I did not take any of this as I was away.

Haven't take a single trade yet today, very narrow range and the US OIL 4H chart is coslidating around the support level... Not a clear direction so far..

DM

No trades till inventory gadheras are out of the Jungle. Will simply watch some nice movie till then. And if I get a chance to find a good trade after that, I will crack that.

Yes, as of now I can see the traces for the upmove, a close above 100EMA in 15min TF is the key... Lets watch...

DM

Yeah, there may be fake in both side a mins before the report is out. It happens routinely.

Booked 20+ points on short and holding 50% of the size.

If any of you actually tried going long before the inventory result was out - yes you could have been profitable in case it was a drawdown (which is not in actual) on the inventory as forecasted. But then it was a pure gamble not trading. Always, wait for the news to be published, opportunities will be there.

So may this loss of money help you to learn that
1. Dont predict the news, see the reaction of the price to the news, and then ..
2. Try to predict the future price based on the chart depending on how market reacted to the news

Both are probability anyways, you has a little extra odds in your favour for the later case.

BTW, I closed the rest with +18 pips and out.

If price can not sustain above 3570 - going by chart, we will break PDL and then there will be no recovery (I reserve the right be being wrong here, so don't trade based on this).

A Quick trade...

DM

2nd Entry

DM