Crude Oil Trading

[arsh22g]

Downtrend will resume below 2450. Till then, it's still some selling in uptrend. What do you guys think about taking a swing long at the current levels?

2450 wasn't broken, entered long again at 2475. But now stuck again at yesterday's mega resistance.

 

[mt4trader]

more trading in usa session only.
everyday gapping up or down 50 points which making difficult to analyse the charts.and mcx foolishly capping circuit breaker with closing price.they can use opening price instead of yesterday closing price.we can not place stoploss above the circuit breaker.foolish thinking of stopping market here will not stop the market in the world.

 

[arsh22g]

2450 wasn't broken, entered long again at 2475. But now stuck again at yesterday's mega resistance.

Broken out, added to the long at 2561. Next pit stop at 38.95-39.00

 

[headstrong007]

Swing trading is dangerous in MCX Crude..bcoz intl market open almost 24hrs..MCX only 12hr max..frequent gap up and gap down in mcx in complete reverse direction..
see today.. prev day mcx market ended near low..all things changed in next 12 hours before todays open..Bachke rahena..
I trade safe.. trade intraday.. no overnight..only 10m/30m charts..

 

[arsh22g]

Broken out, added to the long at 2561. Next pit stop at 38.95-39.00

Closed the full long at 2575, no major buying coming in after the breakout, Crude looks like going for a downtrip to 38.30 structural level again, before deciding on the next upmove. Ab next week dekhenge :clap:

 

[arsh22g]

Swing trading is dangerous in MCX Crude..bcoz intl market open almost 24hrs..MCX only 12hr max..frequent gap up and gap down in mcx in complete reverse direction..
see today.. prev day mcx market ended near low..all things changed in next 12 hours before todays open..Bachke rahena..
I trade safe.. trade intraday.. no overnight..only 10m/30m charts..

I started crude intra-day, but it didn't seem to respect structure that much on intra. In addition, need to have very wide SLs for proper structural play. So, having a few SLs hit in intra is equivalent to a big SL hit in overnight. I found one hourly strategy that works when combined with basic structural TA (posted backtest results in this thread). Currently working on automated intra-day strategies as well. Although got some good ones, but all suffer from having a long streak of consecutive small losses, and few big gains. This may have trust issues in live market.

 

[headstrong007]

arsh22g, u r trading verry well.. using swing trading.. positional..
if u can mange the risk of gap against the trend using the very big profit already taken.. which u do....go on..don't change ur style if it is working..

my post for general swing traders.. I found it is difficult to trade swing in crude..
For me it is easy in intraday..specially when range breakout..during evening..making easy profit with small SL..diff style..

 

[arsh22g]

Woah....just came back and had a look. Crude touched 2647, weekend manane ke chakkar mein jaldi nikal gaye :rofl:

 

[arsh22g]

Watch out for the Gartley formation at current levels. US rig count failed to take oil higher, took a counter short at 2638.

 

[arsh22g]

Watch out for the Gartley formation at current levels. US rig count failed to take oil higher, took a counter short at 2638.

Previous week swing short still open at 2638. In addition took an opportunistic scalp in the downside BO. Short at 2647, cover at 2634.