Crude Oil Trading

[arsh22g]

Bearish signs on swings :
1) UT line broken
2) Short term support around 43.10 broken
3) EMA(13,33) crossover on 1 hour TF happened
4) Stoch crossover on 4 hour TF happened at the top (not shown in the image)

High probability of seeing atleast 42.35 structure level.

 

[arsh22g]

Shorted @2902, added to the short at the break of support @2879. But the damn thing decided to bounce back from 2874 :annoyed:
Now holding a loss making position

 

[Silentshadow]

Dear Surfer,

I have been trying to ace your suggestion but somewhere I am missing something not able to get an clear entry. 22/4/2016 18:25 is this where I should have entered a long @ 5TF and how to leverage on macd am little confused and seek guidance

I don't know what time-frame chart you use for your trading but assuming you are day-trader , here is a tip .


Put 12,26 and 89 emas on your 5 minute chart along with MACD. Trade only in the direction of trend. If 12 >26>89 , look to go long after pivot breakout and inversely for short trade.

Just put these on your chart . Have a good look at it and see what jumps out at you.

Here is what happened today but today has been a trending day . If you place your trades in the direction of 89 ema and have patience , you will be rewarded more than enough.

Same indicators , hourly chart

 

[Silentshadow]

Guys I am posting few studies of-course people who have been posting on this thread have already aced their own strategies. The sole reason for me posting my understanding over here is go get some feedback from experts like you before I start trading aggressively all over again. In anticipation of some help and feedback here I start ~ pardon me for the noise all these I have learnt from TJ itself

Classic 315 Strategy - Courtsey RH
Indicators -- >> EMA 3, c AND EMA 15, c

* Near to end of day if EMA 3 happens crossover 15ema from top then go short and viceversa
* Square off the trade if candle body doesn't touch the ema line and reenter when it comes back in range
* SL is the tricky part, normally I book @ 50-75 points or when crossover happens in the reverse direction of trade
Note I have been taking positional trades leveraging this strategy

Example March 28 short and April 8 long taken

 

[Silentshadow]

Modified 315 Strategy to avoid whipsaws Courtesy Santosh

Indicators
* Ema 15 based on High.
* Ema 15 based on Low.
* Ema 3 based on close.(signal line)

Entry logic :-
Go long when EMA3, Close croses EMA15, High
Go short when EMA3, Close croses EMA15, Low

Example
Short on March 30 & Long on April 11

 

[sherbaaz]

Shorted @2902, added to the short at the break of support @2879. But the damn thing decided to bounce back from 2874 :annoyed:
Now holding a loss making position

hi,

seems like u shorted into the trading range on 60M chart. the price where it looked like support broken turned out to be the test of support.

to me it looks like dist is going on 60M time frame. 2880 is the level to watch out

r u still holding your short?

regds,s

 

[arsh22g]

hi,

seems like u shorted into the trading range on 60M chart. the price where it looked like support broken turned out to be the test of support.

to me it looks like dist is going on 60M time frame. 2880 is the level to watch out

r u still holding your short?

regds,s

Yeah, first short was in trading range. But have to take such trades for a lesser risk entry. I lever up if the trade follows in my direction, like the addition after breaking of range support around 2880.

My SL was 2926, above pivot high of 2920. I was holding same quantity shorts from 2945 from Friday as well, and covered at 2895 today morning. So, weekend gain got almost netted

Now, trend again looks up on 1 hour. So, entered same quantity longs at 2932. Crude is freakingly volatile in this range.

I gauge trend based on 13,33 EMA crossover on 1 hour, coupled with bars pattern of course. But I do take trades against the trend when it's highly likely that crossover is going to happen because EMAs are close and sloping towards the new trend and price action also confirms it.

 

[amitagg]

So what's stop for 2932 ..... Back to 2880 ... Is it!?

Sherbaaz - what make you believe it's distribution....... Volume , previous resistances at 2900-3000 on multiple occasions, top of rally as per any predetermined targets ..... What!

 

[amitagg]

error error

 

[arsh22g]

So what's stop for 2932 ..... Back to 2880 ... Is it!?

Sherbaaz - what make you believe it's distribution....... Volume , previous resistances at 2900-3000 on multiple occasions, top of rally as per any predetermined targets ..... What!

error error

Yeah, it has to be around 2890. It's high if you are a day-trader, but I trade exclusively on 1 hour or higher. May use 15 min for Entry.

What error are you talking about?