Crude oil intraday

Hello everybody,

I opened this thread to discuss the oil so charts etc here.

-I also post my trades of the day etc.(take a look in the thread)

http://blackgoldforex.tumblr.com

Men you gotta quite a big range of indicators there. I was looking for the break since yesterday. It can run big time till 80.20. I missed the entry ... shame but I was in another trade.

sisse

Finnaly oil whent the usd cad had some good news and whent up the reaction came a bit late on oil but finnaly broke out.

http://i44.tinypic.com/a4lngm.jpg

Yes lot of indies so i can watch many markets the same time who are important with oil

sure when I trade oil i have more information from other markets but not in the pull the trigger chart. A second monitor is always a plus.

Do you usually trade oil? Most of the people here trade forex only so it will interesting to share some trading oil charts

sisse

Hello All

It is glad to see some futures discussion here, I have one question do you trade it with CFD provider or actually futures contracts? If so how does spread affect your results?

I also trade crude with Infinity as well as the NQ but I use 144 tick charts I find it helps me get a better view. I find these markets are just better to day trade. You can take a couple of winners in the morning session usually in the first hour, then continue on with life till the afternoon session.

Your comments would be appreciated

Dazza

Futures Contracts only.

Spreads depends on instrument liquidity. In most of the common instruments (ES, ZN, ZB, FGBL,FESx, ZB, Zb, 6e, 6B, NQ, YM, etc) are very liquid so no spread problems. In the more volatile instrument (Fdax, Ftse, Cl, Gc, etc) in fast conditions price can fly very fast but you will be usually filled at the right price. In the illiquid instrumetns you can only trade during market hours (depending on the future US, London, Europe, etc market hours)

Futures are a lot better environment broker-wise & marketwise to daytrade. The thing is you need some capital to trade while in forex anyone with a tiny account can play and dream to be a trader. While the break of support on that oil chart above represent a +/-$1000 with the minimum 1 future contract for a mini trader in forex a similar move will represent a $10 move so the perception of risk is completely different

Futures are as hard/easy to trade as any other instruments in the market. For small trader the advantage over forex is a more serious and regulated environment so you don't have to deal with common forex bucket shop problems, for the rest is the same.

In any case, I will post some futures charts for discussion during the trading week ...

sisse

Hi Sisse

I was glad to get away from the forex brokers, regulated prices are fantastic and make back testing more accurate as well as spread does not need to be factored in. When I was trading forex the biggest thing I found personally is spread varies and only the best price is quoted a small percentage of the time and when day trading a 1 to 2 spread difference effects your results dramatically.

I am going to start testing the Euro and Pound futures to trade the London session as its trading time is much better suited to Aussies.

I will post some charts to.

Happy trading

I am still trading at fxpro.

May i ask you guys where you trade the futures so i can take a look sounds intresting..

Nice this thread is running i am kinda bussy at the moment but whill post more chart thats for sure..

What can i say

http://i39.tinypic.com/fulu94.gif

lets rumble

Trade for so far going


http://i40.tinypic.com/4l21lh.gif

Is oil forming an inverted head and shoulder



http://i42.tinypic.com/ojl5b5.gif

Hi Ingmarforex

My futures broker is Infinity, but at the moment I am looking at Mb trading right now because of their fees which are really good especially in the currency pairs. I am currently doing some testing on the Eur/Usd with them.

When considering a futures broker make sure you can get a data feed that will go into your platform (i use ninja trader and it is free too) for free as data can be expensive. I used tradestation for a while but I had a lot of freezing issues with the US futures.



Cheers

Darren

Lets how this baby goes

http://i44.tinypic.com/219vw94.jpg

Looks like whe also get a pinbar

Hey Mate

I would like you to explain your analysis especially on the higher time frame. If I trade Oil it would be on a 89 tick chart. Are you trading CFD's for your trading or just lucky to be successful and heavily funded(my dream).

Darren

http://www.fxtradingfactory.com

Hi dazza,

I am stil tradingl oil futures at fxpro but i wanna make a change in future.

No i am also not really heavilly funded the example before was demo i also took on real but not with the same amount just wanna get more people in here.

I will put more explanations in the future about the trades.
The trade from today was about pure price action (candles) and the confluence area bleu marked also the 1h chart showed diverence rsi and macd.

As you can see oil whent good.

http://i42.tinypic.com/11hq5ae.jpg



My first target at 50 fib hit my second is at 83.70.

WHen it will hit 38.2 i am looking for touch trade high confluence area there so alittle short will do good i think whe are still in a bullish run so some of my longs i keep open from the trade today.

(Also the fundamental i am not sure if this is worked but if i look at the demand for example: Iceland big cloud less kerosine needed planes no flying later this day planes flying again so more demand this is maybe strange look at it but it is my view)

Just whent short oil closed my longs


Reason see chart explanation

http://i40.tinypic.com/11jyqf7.jpg

See the chart for explanation


http://i42.tinypic.com/2dseeye.jpg