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jacobtrader Jan 7, 2008 12:43pm | Post# 1

OIL/USD charts
 
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I created this new Thread.. Since i didnt find it.
And i think its good to diversify..

Ok I think OIL/USD pair will fall down towards 93 levels. And then will rebound.. and push higher.. it did fall today to 93.70 levels.

Pass your views..
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forexlion Jan 7, 2008 12:57pm | Post# 2

CADJPY and Oil follow the same pattern, and inverse of USDCAD.

toptrader Jan 7, 2008 1:05pm | Post# 3

oil
 
i do around 20 oil trades a day all always take profit oil is great trade as it is very easy to follow on low charts and trades fast move in to profit. oil did go short and right now after london has closed we will see sideways and must wait for next move it could be up or down there is no sure was of guessing or plotting oil you need follow low charts and act fast

here are just my last 5 oil trades

690077 2008.01.07 16:25 buy 1.00 oil 93.83 0.00 0.00 2008.01.07 16:27 93.92 0.00 0.00 0.00 40.57
690096 2008.01.07 16:27 buy 1.00 oil 94.01 0.00 0.00 2008.01.07 16:28 94.06 0.00 0.00 0.00 20.54
690104 2008.01.07 16:28 buy 1.00 oil 94.16 0.00 0.00 2008.01.07 16:29 94.26 0.00 0.00 0.00 50.08
690115 2008.01.07 16:30 buy 1.00 oil 94.31 0.00 0.00 2008.01.07 16:39 94.41 0.00 0.00 0.00 50.08
690329 2008.01.07 16:52 buy 1.00 oil 94.21 0.00 0.00 2008.01.07 16:52 94.30 0.00 0.00 0.00 40.57
690380 2008.01.07 17:02 buy 1.00 oil 94.05 0.00 0.00 2008.01.07 17:06 94.13 0.00 0.00 0.00 40.06
690414 2008.01.07 17:11 sell 1.00 oil 94.37 0.00 0.00 2008.01.07 17:13 94.28 0.00 0.00 0.00 40.57
690483 2008.01.07 17:26 sell 1.00 oil 94.55 0.00 0.00 2008.01.07 17:28 94.50 0.00 0.00 0.00 20.54
690506 2008.01.07 17:31 sell 1.00 oil 94.61 0.00 0.00 2008.01.07 17:34 94.57 0.00 0.00 0.00 20.03

jacobtrader Jan 7, 2008 1:10pm | Post# 4

What time frame you see for OIL.. to do quick trades..
I usually work on longer time frame though

jacobtrader Jan 7, 2008 1:10pm | Post# 5

toptrader,
and what indicators you using along with what time frame to make Quick trades.. just to have an idea.

Appreciate it

toptrader Jan 7, 2008 1:13pm | Post# 6

1m
 
hello i use 1m on oil just closed another load of pips on that move, i use rsi, stoc but in main i use my own indicator that i made

jacobtrader Jan 7, 2008 10:25pm | Post# 7

Getting Long clearance of $95

OIL SPOT

bygolly Jan 8, 2008 2:18am | Post# 8

Trading Oil
 
Is there a way to trade oil from a forex broker account? or is this traded with another type of broker?

jacobtrader Jan 8, 2008 2:33am | Post# 9

i am trading with my broker stifxonline.com

trading oil, gold, and other currencies.

bygolly Jan 8, 2008 2:52am | Post# 10

Thanks, I'll take a look. How long have you been with this broker? There are true horror stories of bad brokers and folks who have lost their accounts.

bygolly Jan 8, 2008 3:14am | Post# 11

Thank you, sounds good. :-) I'll check out a demo account and see how they are.

Ted1983 Jan 8, 2008 11:09am | Post# 12

Is there a way to trade oil from a forex broker account? or is this traded with another type of broker?
Hi,

There are some FX brokers which offer Oil. These include ODL, North Finance,WHC and FXPro. There are probably a number of others. I cannot recommend any of these although I do have a small live account with North Finance. ODL is registered with the FSA which means it is likely to be more reputable than some others. Please be aware that a lot of brokers are not regulated by any authority.

jacobtrader Jan 10, 2008 8:27am | Post# 13

I see oil to fall back to 91 levels.

Oil traders pass your views.

Jade Gate May 14, 2011 6:48pm | Post# 14

Oil / USD
 
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Given the historical relationship between oil and the US Dollar, it was interesting to note that during the market action on Friday when the Dollar was gaining on T-Note action, oil also went up.

There's been a lot of talk around about oil prices coming down, however the chart seems to be saying otherwise, i.e. oil is going up. The monthly chart (bearing in mind that higher time frames always rule the day) - with 21 and 55 ema's crossing over coming up from underneath and the 200 also providing support, it doesn't look like oil will be going south at all.

On the lower 4H time frame, price is doing higher highs, higher lows.
On the daily time frame, we have a potential W bottom (this is also showing up on other charts, like AU). W patterns are generally very strong for north.

Which of course, leaves us to contemplate whether market does in fact have the stomach to back dollars or whether the PA on Friday was more a case of speculation getting ahead of itself.
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Jade Gate May 14, 2011 10:45pm | Post# 15

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Here's another chart, showing a piercing line bull candle on the daily (Thursday's candle). Piercing line candles occur when a bull candle "pierces" up into a a bear candle. They indicate that price is going up for a sustained period of time (i.e. good entry point candle). When seen in the context of a W pattern, it is a reasonably strong indicator that price is going north.
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biDc May 14, 2011 11:20pm | Post# 16

I don't think the Thursday's candle closed far enough into the red body to consider it a piercing candle IMO.

fxcommoner May 14, 2011 11:40pm | Post# 17

bullish trendline on daily chart in gold is still intact; so long as this persists i don't believe a replay of Q4 2008 is in the cards, and so i don't believe USD can sustain a rally against commodities. i think this might be more akin to a period of consolidation before another leg upwards.

Jade Gate May 15, 2011 3:44am | Post# 18

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I don't think the Thursday's candle closed far enough into the red body to consider it a piercing candle IMO.
It's not perfect as piercing line candles go, but it is noteworthy enough. Stockcharts appear to have a different daily close time, this is the daily MT4 chart, and this isn't looking particularly bearish either. Two touches of the 200 ema and oscillator turning up.
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Jade Gate May 15, 2011 8:12am | Post# 19

bullish trendline on daily chart in gold is still intact; so long as this persists i don't believe a replay of Q4 2008 is in the cards, and so i don't believe USD can sustain a rally against commodities. i think this might be more akin to a period of consolidation before another leg upwards.
Inclined to agree. So many key support levels here across all the currencies (EU, GBP, AU) and some clear resistance on UCHF. UCHF also has a small gap around 0.88000, still expecting this to hit .8450 (161.8 fib) and then struggle some to decide if it is going to push further south. I guess this is the key issue - can see a possible scenario where the dollar nose dives and oil goes on a huge romp.

Obama is already trying to hose down the bullish momo in oil, but neither analaysts, oil journo's or market itself seems to be buying it. When the pollies turn up the rhetroic, you know they already know it is going up - BO is just trying to cover his political ass before the event.

http://finance.yahoo.com/news/With-g...2&asset=&ccode=

The oil PA on Friday is also being correlated with threats from the Mississippi flooding, however this doesn't seem sufficient to give oil the bouyancy it had during such a strong up move on the USD.

kuroro001 May 15, 2011 8:58am | Post# 20

It's not perfect as piercing line candles go, but it is noteworthy enough. Stockcharts appear to have a different daily close time, this is the daily MT4 chart, and this isn't looking particularly bearish either. Two touches of the 200 ema and oscillator turning up.
And based on a purely PA based analysis, the first bounce off the support was strong, then retest of the support thursday and weak bounce because the close is so weak + no follow through of that bounce.

No surprise if we break the support....we have to look for intraday to see that

Jade Gate May 15, 2011 10:01pm | Post# 21

And based on a purely PA based analysis, the first bounce off the support was strong, then retest of the support thursday and week bounce because the close is so weak + no follow through of that bounce.

No surprise if we break the support....we have to look for intraday to see that
The lack of follow through wasn't surprising given the bullish PA on the USD. What I think we will see today, especially during London, is that bullish momo follow through in full swing as the USD is tested on UCHF and EU.

And there is a nice little gap down on open today 99.10-99.37, looking to be filled. When gaps are plugged, they usually get thoroughly plugged, this one going north.

SystemFX2011 Aug 8, 2011 4:37am | Post# 22

Should see a push up later to fill the gap - $86.37 per barrel

masoud_s Aug 12, 2011 9:34am | Post# 23

oil can break 87.26??

TraderJoe007 Aug 12, 2011 9:55am | Post# 24

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I'm pretty sure you've already seen it, all signals have showed up since the crude oil inventories indicated a reduction of oil production. This will usually bring the price of oil back up. It will find its way back to the 90's level again once its breaks 3 major resistance/support levels which already has. I'm still on my 1 contract long gtc @ 80.76 and holding on to it.
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TraderJoe007 Aug 15, 2011 6:18am | Post# 25

I just closed @ 85.58, waiting for another LL to go long.

TraderJoe007 Aug 23, 2011 9:57am | Post# 26

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Oil back at the 83 level, could this be another drive down? stochs show oversold at h4 chart and the 50 and 200 moving average is about to cross on the 5 min chart.

Went short at 84.99 and 84.49, good thing it worked out.

I think could it drive all the way down to 82.15.

any other opinions out there?
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TraderJoe007 Aug 23, 2011 10:02am | Post# 27

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50/200 ema about to cross and the price is way below the bands.

could test 82.15 once passed 83.36?
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TraderJoe007 Aug 23, 2011 10:48am | Post# 28

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Still waiting....
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TraderJoe007 Aug 23, 2011 10:52am | Post# 29

in at 84.94

TraderJoe007 Aug 23, 2011 11:13am | Post# 30

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Still short @ 84.94 waiting to take it out...

now with a 1-2-3 ross hook..
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TraderJoe007 Aug 23, 2011 11:24am | Post# 31

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Now it let it ride down... lets see how it goes....
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TraderJoe007 Aug 23, 2011 12:08pm | Post# 32

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short at 84.94 my trail stop got hit @ 84.65.. +29 ticks, i guess it didn't have the drive down.
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TraderJoe007 Aug 23, 2011 12:25pm | Post# 33

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Short at 85.79... 86.39 was the HH of the day... stochs at overbought levels..

could just be a few tick grab..


this trade worked out well... my PT taken out at 85.16, +63 ticks
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TraderJoe007 Aug 23, 2011 11:18pm | Post# 34

this trade worked out well... my PT taken out at 85.16, +63 ticks

clc4x Sep 3, 2011 2:56am | Post# 35

Oil–Technical Analysis (3 Sept 2011) (Bias: Bearish)
 
How come our beloved government yet to indicate any price decrease on RON 95 and 97? May be they are viewing Monthly chart…..

http://lcchong.files.wordpress.com/2...ng?w=877&h=398

http://lcchong.files.wordpress.com/2...ng?w=877&h=398

TraderJoe007 Sep 7, 2011 12:19am | Post# 36

How come our beloved government yet to indicate any price decrease on RON 95 and 97? May be they are viewing Monthly chart…..

http://lcchong.files.wordpress.com/2...ng?w=877&h=398

http://lcchong.files.wordpress.com/2...ng?w=877&h=398
Good call, had the chance to see the move down over the weekends and early monday. Tuesday's market bounced everything right back up, but had enough time to cover my shorts.

will be looking to your blog, I too use MAs in most of my trades, i could learn more from you..

Thanks LC.

clc4x Sep 7, 2011 9:17am | Post# 37

we will learn from each other.

clc4x Sep 7, 2011 10:36am | Post# 38

Oil–Technical Analysis (7 Sept 2011) (Bias: Bearish + Uncertain)
 
http://lcchong.files.wordpress.com/2...ng?w=877&h=398

sporting Sep 7, 2011 6:04pm | Post# 39

so where do u expect oil to reach this week

TraderJoe007 Sep 8, 2011 4:08am | Post# 40

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so where do u expect oil to reach this week
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4H chart shows the MA crossing to the topside, just tested the 90 level but not a consistent moved up.

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1H chart shows a slight moved down, but the 50 MA is about to cross the 200 MA. Could be another test of the 90's?.


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