Karthik's CRUDE Intraday Strategy

[karthik_sri]

Dear TJ Friends,
It's almost a year that there is no update or strategy posted or shared by me here in this forum. Though I am On & Off due to work pressure couldn' t able to post here.

I have come back with a simple Intraday strategy to Trade CRUDE OIL!!!

CRUDE OIL is my all time favourite scrip as the Scrip will have good Trading Volume and Traded by most of the traders. We can make decent profit with CRUDE OIL.

I will explain my step in the coming threads.

Cheers
Karthik

 

[Sammy.Young]

Welcome Karthik...can this be applied in stocks as well ?

 

[karthik_sri]

Here we go...

Chart Setup
Time Frame: Intraday Chart 1 Hour
Technical Indicator: 3EMA (Open)

Setup

Buy Setup:
1). We look for 1 Hr Candle/Bar to Open above 3EMA (Open) and Close above 3EMA (Open).
2). If the above condition is met place Buy order on the High price of the setup or trigger candle and add 7-8 points from the High price to avoid immediate price reversal.
3). SL is High/Low of the Trigger Candle
4). Target: Minimum 10 points (i.e Rs.1000/-) and more according to the risk taking appetite.

Sell Setup
1). We look for 1 Hr Candle/Bar to Open below 3EMA (Open) and Close below 3EMA (Open).
2). If the above condition is met place Sell order on the Low price of the setup or trigger candle and less 7-8 points from the Low price to avoid immediate price reversal.
3). SL is High/Low of the Trigger Candle
4). Target: Minimum 10 points (i.e Rs.1000/-) and more according to the risk taking appetite.

I will explain the same with Chart in the coming threads

Karthik

 

[karthik_sri]

Welcome Karthik...can this be applied in stocks as well ?

Yes Sammy...but take Highly Traded stocks and High liquid stocks

 

[karthik_sri]

I have posted below Crude Oil 07.11.14 Intraday Chart...

http://i.imgur.com/UoxsYrK.png

 

[karthik_sri]

I have posted another chart for Sell condition 10.11.14

 

[comm4300]

thank you for this strategy.

why restrict target to 10 points only?
SL seems to range between 25-30 points.

won't a bigger profit target be justified.

 

[justy]

Kartik the system seems good but risk reward ratio is not appropriate.

 

[kvram]

dear kartikji R R IS NEARLY 1:3 IS IT ADVISABLE OR ANY THING WE CAN DO?PLEASE SHARE.

 

[karthik_sri]

thank you for this strategy.

why restrict target to 10 points only?
SL seems to range between 25-30 points.

won't a bigger profit target be justified.

I have mentioned 10 points as MINIMUM...we can have the target of R:R and in that scenario the SL point would be our target point. If SL is 25 points the target to be 25 points keeping 10 points as Minimum I want to keep this as simple as possible without much of complication...

We can initiate two LOT's and take one LOT profit at 10 points and the other LOT wait for the RR and keep the SL at entry point...

Pls dont ask me for the backtesting data as I have not done that...

Karthik