I always trade in crude intra

[palai0462]

15M Crude

Sell already triggered
SL is also reduced greatly
But we did compromise on the reliability of the trade

View attachment 26232

did you short on this?

 

[palai0462]

shorted again 4691

 

[pannet1]

did you short on this?

no. i am just pointing it to you.

btw: you know that i am only paper trading

 

[pannet1]

i am working out a trading system for INTRADAY.

time frame 30M

1) for this discussion lets assume that we are in an uptrend
2) In a uptrend, we look for bearish bars (numbered above). this is setup bar A
3) this has to be followed by a bullish bar immediately and should have taken out the hight of setup bar A, this is a setup bar B
4) then we mark the high of setup bar B and enter a BUY STOP order
5) if the order is not filled immediately before the close of the next bar trigger bar C, we cancel the buy stop order
6) if BUY STOP is filled, we place our stop at the low of Bearish Setup bar A.
7) if STOP LOSS is not taken out we will exit at the close of first BEARISH bar that gives us profit.

Lets see how it panned out in the picture above

 

[palai0462]

sl went of .. 10-points

 

[pannet1]

bar 1) setup bar 2 (bullish) did not break the high of setup bar 1 (bearish) .. no trade
bar 2) trade triggered and SL hit
bar 3) trade triggered and profit taken at 6
bar 4) SL hit
bar 5) trade triggered and profit taken at 6
bar 6) trade triggered and profit taken at bar 7
bar 7) trade triggered but its too late for intraday trade. if positional profit taken at bar 10

please let me know your sincere opinion on the same.

 

[palai0462]

but i had a doubt about this short .. because WTI crude didn't give a sell trigger .. MCX 1 hour and 30 minutes both gave .. also had a fibo pivot at 7694 .. all explained, end result is i'm in red again .. 4 points

 

[palai0462]

View attachment 26236



bar 1) setup bar 2 (bullish) did not break the high of setup bar 1 (bearish) .. no trade
bar 2) trade triggered and SL hit
bar 3) trade triggered and profit taken at 6
bar 4) SL hit
bar 5) trade triggered and profit taken at 6
bar 6) trade triggered and profit taken at bar 7
bar 7) trade triggered but its too late for intraday trade. if positional profit taken at bar 10

please let me know your sincere opinion on the same.

an eloquent method Pannet ... unfortunately, i am not a professional for this much deep analysis .. i simply trade the cross overs and pivots ..

 

[palai0462]

should i be looking for short again below 4690? .. what your setup says?

 

[palai0462]

I beleive there will be fall, be small it may be .. may take off again...