CrudeOil Mini

30th May 2017, 07:16 PM

One trade Short and one add taken today. Shorted at 3225 and added at 3205.
Right now the SL for both is at 3196 + 2 (3198). Charts will be posted EOD or
end of this trade.

07:23 PM
If you carefully observe the OBV pane then you can clearly establish the bias to
the down as it is only kissing the lows of the 15period green threshold line. It has
not even touched leave alone breach the top green line.

My aim in this thread is to make 500 points or go bust whatever comes first. I am
at minus 8 since yesterday i think.

07:41 PM
SL brought down to 3187+2 = 3189.

07:50 PM
out at 3189. 52 - 8 = +44 points. on day 2. Thank you. 3 trades done

varun ji how can i plot this chart the way you do ., i want to see if this method is
for me or not ,any specific afl you use ?? signature search 'john302928' user

08:20 PM
Well rest all you can find in my thread but the Bold green and red lines which is
forming a channel is as under.
Draw High EMA2 and Low Ema2.
And then to smoothen them, plot Keltner channels with 8,0.4 as settings.
Then plot the TEMA2(in Bold Green of the top of the keltner channel of EMA2
High)
and TEMA2 of the bottom of the keltner channel of EMA2 Low. In the end only
these 2 TEMA's (bold Green and Bold Red) should be on your charts. Use the No
draw function for all the other parameters used.
Princy ji EMA2 means Ema of 2 Period. TEMA stands for Triple Exponential Moving
Average.

08:29 PM
The channel is what provides you the current trade and bias. So longs only when
you take out the last high above the channel with stop as the last low below the
channel for longs and vice-versa for shorts. Adds when previous highs above the
channel is surpassed after coming back into the channel and preferably touching
the red line of the channel.(Signifying end of retracement) Sounds confusing ?

This method does reasonably well in trending markets where you can get many
adds. In smaller time frame you can get a trend in less movement too.
09:00 PM
So going by this method, we only booked our shorts to lock in the profits. The
buy would have come if we would have gone above 3204. We reversed again
from 3202. So on hindsight 3200 would have been a good level to short with a sl
of 5 points, the breach of which would have given us a long trade. But no more
trades for me for today.

1st June 2017, 03:35 PM

Shorted at 3153 SL 3171.

03:43 PM
SL now 3147

04:09 PM
SL 3137 now

04:30 PM
SL 3132 now

04:34 PM
SL hit out of trade. Net points +44 + 21 = 65 (Total 4 trades taken)

04:44 PM
Will go long above 3133+2 = 3135 with SL of 3125-2 = 3123.

04:59 PM
Long at 3135 with SL of 3127 now.

05:01 PM
SL 3132-2 = 3130 now.

05:13 PM
SL taken. 5 points lost. Needless trade.

05:45 PM
Planning to go long again at 3132.

05:52 PM
Sl 3115. Let us see. I expect 3160 to be the resistance (Target)

07:56 PM
3133 to 3114. This is the range. BO/ BD can give 20 points.
MY SL is 3114 now.

07:59 PM
Exited at 3135 will take positions after data. So made 3 Points and lost 5 Earlier
so Net 63 Points (in 6 Trades). Oh. I sold because i thought it was 8:00.
(inverntory day)

08:37 PM
Bought again at 3127 with sl of 3119.

08:40 PM
SL 3136-2 = 3134 now.

08:41 PM
SL 3147 now.

08:42 PM
SL 3154-2 = 3152 now.

08:43 PM
SL 3156 now.

08:43 PM
Target of 3160 done. But i am still in trade with sl of 3156.

08:48 PM
Exited at 3167 (40 points) No more greed for today. Net Tally is now 102 Points
(In 7 trades). Good Night and Thanks.

08:53 PM
But no shorts above 3125.

09:53 PM
Though no more trades for me today but longs only above 3175. Till then one can
be in shorts for 10/15/20 points with 3175 as SL below 3161

09:56 PM
10 Easy points done (Though i am not in trade)

09:58 PM
SL for shorts is at 3167 now

10:29 PM
keep sl for shorts at 3162

11:23 PM
We have had 4 test of 3151 in the last 2 hours. This would be a good support and
now shorts only below this level else can go long tomorrow above 3151.
2nd June 2017, 10:28 AM
So 3151 it was. Now it will act as a big resistance.

10:29 AM
This is what i had written last night at 11:20

01:27 PM
Crude is coming down nicely.

01:59 PM
SL for shorts at 3072. Charts later.

04:32 PM
Now SL for crude at 3060.

04:48 PM
SL is now 3058.

05:05 PM
SL taken. 31 Points Profit. Total 133 Points (In 8 Trades)
Actually left too much on the table. Should have got out at 3038.

05:15 PM
Getting out at 3038 would have served 2 purpose. 1) profits would have been
more and 2) could have gone long with manageable SL. Now the SL for longs is
very big so did not take the trade. (By the way 3038 was a logical stop as the last
high above the green line was 3037 but it did not retrace back much into the
channel)

05:36 PM
This is what i meant by wrong SL. Would have got 50 more points. 20 in shorts
and 30 in longs.

05:38 PM
The more you delay entry in a trade, the more riskier it becomes because of the
larger SL. The channel width is only about 10-15 points.

05:39 PM
Infact right now also the channel width is a mere 6 points.

05:40 PM
This channel closely follows price and tries to give you very good entries and
exits.

05:45 PM
When i look at the charts now i can see that there were 2 adds available if i was
only concenterating on these charts. They were at 3066 and 3055 with exit at
3038. So 28+17+50 = 95 points blunder. BN did not have much to offer the
whole day. So the day wasted.

05:47 PM
These adds were made available on breach of Pivot lows after retracing to Green
line in the channel. So fixed rule no ambiguity or discretion.

06:04 PM
Will Go long at 3064 with SL of 3046.

06:23 PM
Will go long at 3048 with SL of 3040 now.

06:33 PM
Bought at 3045 with SL of 3029.

06:47 PM
SL raised to 3044-2 = 3042.

06:53 PM
Added another lot at 3053. SL for both lots at 3045 now.

06:56 PM
Sold one at 15 points profit. SL for other at 3052.

06:58 PM
Resistance in 3065-75 band.....
Smart_trade

06:59 PM
ST ji my targets are 3200+ if it pans out according to plan. But that is all a
different thing. One should only trade the chart.

07:03 PM
You are right. There is a wolf wave in crude which gets active above 3076. (One
of my friends is a WW buff)

07:04 PM
SL at 3057 now.

07:05 PM
Next entry at 3062 with SL at 3050.

07:28 PM
Will Add at 3078.
07:29 PM
Otherwise SL 3058 now.

07:37 PM
Adding levels at 3067 now.

07:45 PM
15 Points given. SL hit (Now 12 trades done) with 145 points profit.

08:01 PM
But crude is still not a short. Correct SL would have been 3029 but that was too
far off. Will wait for a manageable trade.

08:19 PM
3047 is a good support. Bought at 3048 with SL 3045. I know sounds crazy.

08:26 PM
Another sl trade 3 points more given. What was i thinking. It was a clear short
from 3067 levels.

08:30 PM
13 Trades with 142 points. Used up too many trades today.

08:31 PM
As per our original method crude is not a sell above 3030. i.e is the last low below
the channel.

08:39 PM
One last trade for the night Bought at 3035 with sl at 3028. No more trades after
this.

09:01 PM
30 Points booked. Now no more trades. Final tally 172 in 14 trades. Good Night.
Enjoy the weekend. Had gone out for a smoke only to find my target hit.
15min. 36EMA was at 3065.6 so had kept a target of 3065.

So 70 Points today but in 7 trades. The mistakes of today. I was playing like a
pinch hitter instead of a grafter (As only last wicket in hand 1crudemini lot to
trade). I was looking for a trade rather than waiting for a trade. Used up too
many trades.

09:14 PM
So what did i say no shorts above 3030. And also the divergence played out
nicely in the end. We are definitely going higher.

09:37PM Another view as per our 500tick charts. Good for about 30 points. Isl 7
Points.
09:40 PM
OBV gave me confidence to go long

Silver by the same method gave an entry at 39750 and went on to make a high
of about 40410 (650 points) with an ISL of 120 points.

10:00 PM
I think only i and CM ji were long crude today. Look at it almost 3100. (60+
Points from my last entry of the day)

Not fair. I thought that probably you were also done for the day. Ha ha. Cheers.

10:14 PM
We are going higher 3200+

10:37 PM
Could not sit idle. Bought at 3075 for positional. Sl 3060 for today. Will carry it if
SL not triggered.

Method:post no 31/33/35.

3rd June 2017, 06:31 PM

'm i correct?
plz elaborate

Varun:Would have taken a chance when the candle closed above the Green line.

That was a 500tick chart. This is a 200Tick chart. This should answer your
question.

09:16 PM
Just made a channel on OBV using BB, Ema,Keltner Channels and TEMA. Does it
add any value in trading. Please answer or is the earlier channel over OBV using
15period highs /lows better. This poser is for everyone.

09:17 PM
Entry into trade can be of OBV entry back inside the channel with confirmation
from price channel.

09:18 PM
So apart from the initial short. We got 1 long and 2 adds by this method in the
late afternoon. And the SL would have been minimal. (hardly 4-5 points)

This method could have given us more than 120-150 points from 3:00 PM
09:24 PM
If you observe carefully there is a blue shaded BB with 3,0.4 as parameters which
is closely tracking the OBV line, which can be used for adds within this channel.
Sounds confusing ?

5th June 2017, 10:08 AM

SL for crude now at 3100.

10:10 AM
SL now at 3110

10:22 AM
Out at 3110. Now tally 207 in 15 trades.

11:04 AM
Sorry avoid Tema, tema1 and EMA2. The settings of BB2 is 3,0.2