Taking a nibble from 47, 1H chart showed BF / CH, so valid entry. Will hold for a bit.

Trading Crude Oil with price action + indicator

This has been a yawn per day week. The 48.49 support remains intact, if it breaks, direction would be obvious. The gap down from Monday doesn't seem to be a breakaway gap. <yet> It should be expected that the overall formation is bearish. So beware ...

Trading Crude Oil with price action + indicator

TP on swing stop. Daily, Will wait for numbers tomorrow for clearer direction. This could be a consolidation area As price has turned before putting in a new high, there may be cause to consider that the Oil Bear remains in town.... The market will ...

Trading Crude Oil with price action + indicator

I have exit rules, Stop / Take Profit moved to 4973.8 Swing exit. Locked

Trading Crude Oil with price action + indicator

USDZAR Daily Now flirting with multi-year rising support... Excuse the mess, have some other lines on looking to see if things pan out. image

Mr. Scott's Crayon Thread

Brent Oil H1 Interesting PA flirting with 5100 level. Not useful I know but since no one else has intra-day charts I thought I'd share... image

Trading Crude Oil with price action + indicator

1.26937 total close

Mr. Scott's Crayon Thread

Wedge target is getting close

Mr. Scott's Crayon Thread

I have key resistance at 50.21 I have capital protection stop at 46.72 My trading plan is 80% profit at 52 and trade hourly swings with stop for the rest. Sticking to the plan, currently no rules for exit. Fundamentals continue to support the plan. ...

Trading Crude Oil with price action + indicator

As always the report is open to market interpretation but: Demand was higher than supply and storage was used: U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.5 million barrels from the ...

Trading Crude Oil with price action + indicator

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Trading Crude Oil with price action + indicator

Interesting thought, the trend is reversed bullish, so I would limit the downside targets. When the AB=CD pattern formed it spoke to a downside of 37.26 on a retracement of 61,8 of the pattern, however price respected the 200 day sma and capped that ...

Trading Crude Oil with price action + indicator

Holding for information: url Oil inventory and FOMC. Caution: event risk

Trading Crude Oil with price action + indicator

I will be holding my long but am moving my stop to cover at 46.72. Target remains 52 area. *Patience*

Trading Crude Oil with price action + indicator

image

Mr. Scott's Crayon Thread

USDZAR Daily It should be interesting to see what happens at the trend-line. image

USDZAR Daily

USDCAD Daily Convergence point of 200 day sma and ?top of a rising wedge. Still need some convincing of full reversal. Oil might help. image Cheers

Mr. Scott's Crayon Thread

The problem with the challenge Emotionally based trading is generally the primary cause for trader failure. Small example of a system that is only 45% accurate: image As long as you exercise 2% risk and 6% profit on trade with complete discipline ...

Geppy vs. GJscalper - a duel to the death!

FX 101 Interest rate, news about interest rates, rumours about interest rates. True for both parts of the currency pair GBP / USD Events that elude to changes in interest rates, like NFP. Perhaps you should buy a book on FX trading and read it?

Cable Update (GBPUSD)

Given the present reaction of price at this level, I've taken a nibble long. Lets see if we move back to the highs. It appears the 200 day sma has provided dynamic support but a close below the 41.50 level will put me back on the bench. Trade Safe

Trading Crude Oil with price action + indicator