Ceyda well done for keeping the thread going but sorry I am not an active trader of Brent ... However, I'm looking to buy this pbk as we near 6900... and risk declines...
I am thinking this move is corrective but we'll see... :cheesy:
Well traded last week by the way
I am thinking this move is corrective but we'll see... :cheesy:
Well traded last week by the way
Atilla
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I think oil is fairly priced anywhere $60+ at the mo.
If $64 holds it may well rise but I can't help thinking as before it depends on market sentiment Demand & Supply. If indeces rally it will go up and if they fall so will oil.
If oil breaches 64 then I can see 63 & 62 on the horizons.
Good luck and I'm watching and following this thread and agree with HS it's good to keep it going Ceydababy...
July Brent
Atilla I'm sure you meant to quote July Brent prices ......:cheesy:
Was kicked out of my posish just above $69 but loss was tiny and looking to get back in as I still think this is a counter trend pullback.... although we're now over $3 off the highs .......... and (obviously) I could be wrong.....
Atilla I'm sure you meant to quote July Brent prices ......:cheesy:
Was kicked out of my posish just above $69 but loss was tiny and looking to get back in as I still think this is a counter trend pullback.... although we're now over $3 off the highs .......... and (obviously) I could be wrong.....
Atilla
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On my CMC acc USCRUDE OIL July Cash Price was the one and charts I was using.
Maybe options or other instruments show different.
However, I think we at a crucial point next few weeks. My sentiments are that gold and oil are based more on geopolitics than supply and demand or the charts. News can take it just about in either direction with all of 10 seconds notice it takes to announce it.
In all honesty I have been thinking about shorting oil from $66 but other than a few small scalps missed out on the pull back.
On the geopolitics although US and Iran talking about Iraq doesn't mean they reached any conclusions... My thoughts are;
1. They will fail to agree on what to do next or
2. They will agree as the US is using these talks as their muscle bluff didn't materialise as a last chance to see if they can get Northern Iraq oil fields in exchange for leaving Basra oil fields and allowing Iranian influence in Southern Iraq. ( This I guess means the UK gets peanuts other than getting to leave Southern Iraq ).
If 1 happens gold and oil will go up.
If 2 happens gold and oil will crash.
Other than quick short scalps best to stay out for the time being imo.
Glad to have a few readers
Got stopped out for the usual 20 points + spread this morning. Not too bothered apart from the fact I was in a meeting when I needed to short the damn thing !! So would have been money up. Once I have missed the first move I NEVER Like to chase the price so had to let this one go.
Waiting for my next signal tomorrow, where I hope to be getting involved.
Thanks for the other comments guys....as far as the geopolitical and supply/demand issues go, I really just look at the chart. My trading timescale is so short that I like to think these issues don't affect me so much.
Trade the chart that is all I do.
Got stopped out for the usual 20 points + spread this morning. Not too bothered apart from the fact I was in a meeting when I needed to short the damn thing !! So would have been money up. Once I have missed the first move I NEVER Like to chase the price so had to let this one go.
Waiting for my next signal tomorrow, where I hope to be getting involved.
Thanks for the other comments guys....as far as the geopolitical and supply/demand issues go, I really just look at the chart. My trading timescale is so short that I like to think these issues don't affect me so much.
Trade the chart that is all I do.
Atilla
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I'm increasingly looking at trading the charts too but still like / prefer the news to confirm direction. When they contradict each other it's like a warning amber light.
I take your point about short time scales.
If we all do our thang we can have an interesting party...
Trades
Would be interested in knowing when you guys are entering positions. You're right I think with the different trading styles the three of us (so far) maybe we could get more thant 3 !! seem to posess it should make for an interesting party....hopefully a profitable one with all the profit potential that is readily available in this market.
I have been looking at other commodity markets, whilst the points available are not like oil they seem to behave in the sameway.
An annoyng thing I have found with Indicies and FX Markets is that on days when economic news is released I find them very choppy and trendless. Bearing in mind that major economic news drops probably twice weekly this is the main reason why I like to trade oil. I find it seems to be immune from these kind of reports....bar the Inventories obviously !!
I am using a trend following system and it gives me far stronger results in commodity markets, not sure if this is to do with the amount of speculators operating in these markets compared to the indicies and FX....really not sure. I would have thought one system fits all markets, but as my knowledge increases I am finding this is strictly not true. Don't get me wrong it works in FX and indicies to a point, but I find an erroneous price spike comes from nowhere and takes my stop out.
Let me know if you think I am talking Bull !! These are just my own observations.
I'm increasingly looking at trading the charts too but still like / prefer the news to confirm direction. When they contradict each other it's like a warning amber light.
I take your point about short time scales.
If we all do our thang we can have an interesting party...
Would be interested in knowing when you guys are entering positions. You're right I think with the different trading styles the three of us (so far) maybe we could get more thant 3 !! seem to posess it should make for an interesting party....hopefully a profitable one with all the profit potential that is readily available in this market.
I have been looking at other commodity markets, whilst the points available are not like oil they seem to behave in the sameway.
An annoyng thing I have found with Indicies and FX Markets is that on days when economic news is released I find them very choppy and trendless. Bearing in mind that major economic news drops probably twice weekly this is the main reason why I like to trade oil. I find it seems to be immune from these kind of reports....bar the Inventories obviously !!
I am using a trend following system and it gives me far stronger results in commodity markets, not sure if this is to do with the amount of speculators operating in these markets compared to the indicies and FX....really not sure. I would have thought one system fits all markets, but as my knowledge increases I am finding this is strictly not true. Don't get me wrong it works in FX and indicies to a point, but I find an erroneous price spike comes from nowhere and takes my stop out.
Let me know if you think I am talking Bull !! These are just my own observations.
Hey there guys,
Nice to see the threads here ceydababy, I'll be sure to monitor more often. You can add a 4th trading style now lol
I agree with you, oil seems usually more sure where it's going and doesn't faff around as much as currency (especially the pound the past week or two). I would post some of my 2cents on the direction of crude but my weekly charts are messing around at the moment, nice on the 30min chart tho, great move today. I use a rather simple techinical (can those words really be used next to each other?) system that also hugs close to a trend following method. Does the job here.
I'll be sure to pop on back and see what's happening. Happy trading all.
Nice to see the threads here ceydababy, I'll be sure to monitor more often. You can add a 4th trading style now lol
I agree with you, oil seems usually more sure where it's going and doesn't faff around as much as currency (especially the pound the past week or two). I would post some of my 2cents on the direction of crude but my weekly charts are messing around at the moment, nice on the 30min chart tho, great move today. I use a rather simple techinical (can those words really be used next to each other?) system that also hugs close to a trend following method. Does the job here.
I'll be sure to pop on back and see what's happening. Happy trading all.
You seem to have it nailed on with the £ this past few weeks. On my Ten minute it has been pretty much untradeable (well too me it has). You get a trend going and then it snaps back on you wiping you and your stop out. Huge up and down consecutive candlesticks......my worst nightmare !!!
I use a simple TA method too. In my eyes the simpler the better. I guess I am running an 80/20 rule. Where 80% are break even or better and 20% hit my 20 points plus spread GET OUTTA HERE Rule!!
Well, are any of you guys trading the live Brent Futures market ?? Or are you dealing through SB Companies....
Me, I deal through Capital Spreads. They have a very tight spread on Brent...5 points...I think Finn's are charging 8/9 points (I do have an account but never use it). For me the spread is the key to the game. Why give away money you don't need too !! ON top of that the Margin Requirements are super low....you only need £100 to trade £1 !!
Today.......
Very slow going. Waiting for a break of 67.50 on the short side and 68.50 on the long. I think if we can breach these prices we may see a run.
Tried to get short this morning at the break of 68.20. Just as i tried to get short the price gapped away from me...so i left it.
No trades yet....
Very slow going. Waiting for a break of 67.50 on the short side and 68.50 on the long. I think if we can breach these prices we may see a run.
Tried to get short this morning at the break of 68.20. Just as i tried to get short the price gapped away from me...so i left it.
No trades yet....
Thursday & Friday.....
No trades at all for me on thursday. Friday one trade\
Long @ 68.15 Closed at 68.85
I was in Cornwall on a G3 Card....Kept cutting in and out...couldn't post the trade on here and the signal was more than dodgy, saw that profit after trying to get back online for 40 minutes and snatched it.
No trades at all for me on thursday. Friday one trade\
Long @ 68.15 Closed at 68.85
I was in Cornwall on a G3 Card....Kept cutting in and out...couldn't post the trade on here and the signal was more than dodgy, saw that profit after trying to get back online for 40 minutes and snatched it.
