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!

 

 

nasdaq is losing steam

it has been a fantastic week with nasdaq. Good trade. Got in own 6/6 at around 7100 and got out on 6/11 for about 390 points profit in NQ

EUR usd is just transitioning down. Both GOLD futures (went up 30 dollars) and EUR USD went up. Gold and USD have inverse relationship. So if EUR is going up, GOLD also goes up

I missed out on Crude – just made about 160 ticks on it… Instead of around 1000 ticks. It is a big bummer since the chart indicated that it has broken support.

NIFTY 50 in India has been very volatile and erratic. Currently i am off and in the sidelines.

Just shorted EUR at 1.12910. the charts indicates a clear change in direction. GOLD is still little bit uncertain. Waiting for the patter to emerge.

EUR is interesting now – It has gone up about 200 pips in 8 days. a steep ascent. It has aggain broken an important support of 1.1300.

Happy traveling and trading

 

big red flag exiting NQ

Screen Shot 2018-09-25 at 12.35.52 PM

Tuesday Sept 25th 2018 around 10:30 am – 12:30 a IST, which is past midnight Tuesday 01:00 am – 3:00 am Tuesday New York Time

I have exited NQ with around 60 points gain. Looking at the above chart. biggest red candle in the number of S&P 500 stocks that fell below their 50 days SMA . Its a 10 point drop ! S&P 500 dropped little more than 10 points. Very great anomaly. for a 0.3 % drop in S&P 500 the number of S&P 500 MEMBERS that dropped below their 50 DAY SMA fell by 15%.

NYSE advanced declined line – 1918 stocks down on 2.3 billion volume. Only 896 stocks up on 992 million volume

one positive sign : NDX opened at 7477 with 45 points gap down from previous day close.

now that was the lowest too! It swung up 71 points to close around 17 point more than previous day’s close!

my decision : i have already exited NQ, I am continuying to hold on to QLD