My Crude Oil positional trades.

[moonliteblue]

Sir,
A memorable run!!
What is your view on the RSI and STOCH RSI in the given attachment?

 

[newtrader101]

 

[newtrader101]

When you start on a single commodity you get hold on it. Its for first time crude slips from 5500 to 3600 more than 30%.
Now two events were inline for which crude movement was paused. OPEC and INVENTORY DATA.
Inventory data was one country event but OPEC is multiple countries involved. Moreover opec has given decisive crossover multiple red candles after crossover so i immediately entered. I kept my position even when its 200 points against it. Only in two days its get back under 3700. Next decisive will be this inventory. You can call it understanding or intuition. But i m ready to give back 100 to 200 points as previous crossover gave me 2000 points.

I m holding short @3617

Looks like you'll be right.

View attachment 31683

 

[imfine]

Dont know but if this inventory will be in red then can tank another 100 to 200

Crude Tanked further 200 points..... Loving it. Holding short at 3617

 

[moonliteblue]

Sir,
A memorable run!!
What is your view on the RSI in oversold zone and STOCH RSI i in the given attachments? what does this signify?

 

[imfine]

Sir,
A memorable run!!
What is your view on the RSI in oversold zone and STOCH RSI i in the given attachments? what does this signify? View attachment 31779 View attachment 31780

Using 14 period rsi on 20 period MA is irrelevant. Use 21 period rsi with 21 period EMA. Both show sign of sell. And see when their is oversold the price has just touched 20 ma line where we can add more quantities to our trade.

 

[moonliteblue]

Using 14 period rsi on 20 period MA is irrelevant. Use 21 period rsi with 21 period EMA. Both show sign of sell. And see when their is oversold the price has just touched 20 ma line where we can add more quantities to our trade.

Thanking you for the advice.
I correct my question:
What is your view on the RSI in oversold zone and STOCH RSI in over bought zone (in given attachments in earlier posts), please ignore the EMA ? what does this signify?

 

[newtrader101]

Hi anybody having a hunch Crude may move up a bit?

 

[imfine]

Hi anybody having a hunch Crude may move up a bit?

i cant get u

 

[newtrader101]

i cant get u

Crude retracement is yet to come.