Crude – what a head fake!

in my last post i mentioned how crude has broken above the 200 days moving average in a ‘fantastic’ way. Since the market is always right, and the price is the only true north star, i hit my stop loss and exited the position i was in.

Yes my three standing orders got triggered, and here are they. Now why you might be wondering i am trading only 1 contract each. Lol, Living while traveling is cheap and asia is cheaper!

Screen Shot 2019-07-19 at 12.46.38 PM.png

I have a sell standing order on crude right below at 54.64 with a expectation that it will fall upoto the next support around 53.15 and nice 150 ticks. very tight stop loss at 54.84.

why ? Crude is at critical support as the 1 month chart shows.

Screen Shot 2019-07-19 at 12.41.17 PM

slow burn up in crude

Crude Oil fantastically broke up yesterday. It shattered a 1 month ceiling and crossed up and above the 200 days SMA.

I’m long on crude, with a stop loss just below 60 dollars and sell limit order at 62.34.

Let’s look at the one month chart.  Screen Shot 2019-07-11 at 9.47.23 AM

as you can see the chart above Crude is at 1 month high and uncertainty between 55 and 60 is gone (i personally lost about 3 round trip trades and was stopped out..total loss about 120 ticks. But the big losses was kept at bay by keeping tight stop losses)

I am really tempted to increase my stop loss in this trade currently. Entered at 60.38 and because of this ‘Slow burn up’ in the below chart, i feel the next near term rally has started

Screen Shot 2019-07-11 at 9.47.56 AM

You see in the chart above for 7 days the movement has been sideways (forming a good support at 56.50 ), and then up. Why did i not enter at 57.00??  Two reasons – one, Stopped out 3 times. Two, the resistance of 60.00 was just too close.

So the stock market is up and sustained up. EURUSD went up 100 pips. Gold is up. Crude is up.

from the charts, by all counts (4 and counting), a near term rally has begun.

i am NQU19 long, CLU19 long, Long TQQQ. Gold – GCQ19 i’m waiting for 1425 to be taken out (I already have buy limit orders on it).

I have already taken 80 points profit on NQ. Reentered on an automatic buy limit order on Charles Schwab at 7959. Stop loss at 7910.

Happy travel trading!

 

 

Crude Oil short trade

Screen Shot 2019-07-03 at 11.31.58 AM

I’m looking at daily chart and a significant trend reversal from long to short is showing. See on daily chart a clear bounce down happened on July 2nd of about 3.00 dollars.

I’m shorting below 55.45. exiting at 55.07 and then shorting below at 54.45 to exit at 52.39

Orders placed and first stop is at 56.15 , thens the second stop is at 55.10. Risk reward ration approximately 1:2