8/04/2009

Crude Rolls On

Crude is restoring my faith in things that go up and down and make shiny blue bars.

2 Minute Crude Oil Chart
The first trade's entry bar was blue when I entered and then went yellow as it closed under the EMA, still a valid signal and worked out to target. I should not have taken that third trade (short) as the short EMAs were still on top of the long EMAs, and I got smacked for my efforts.

Still a nice day.

Soybeans were quiet again with one nice move that I didn't take as I was done after the early crude trading. This soybean chart can go in the business plan as the ultimate signal, we see the range expand, bars go blue, pull back to the EMA, break of previous bar high off the bounce, in we go, target we hit.

It could be the best trade set up I never took.

1 Minute Soybean Chart

6 comments:

daytrader233 said...

Nice trading there Solfest! Not bad for a Genius! LOL

Solfest said...

Well a real Genius would have got them all.

I guess maybe I'm just an associate genius.

For now.

Solfest said...

Anyone see a giant contradiction in my comments and the 4 trades shown??

It hit me after I posted it.

I'll wait a while and see if anyone gets it.

daytrader233 said...

The short EMA's were still under the long EMA's on the 1st trade...therefore creating a paradox whereby your first trade should not have been taken either!! LOL

Solfest said...

DT wins the prize.

Yes the prize, which is to be determined at a later date by a panel of government experts. This could take some time so don't hold your breath.

That is it, the short EMAs, 8 and 34 were not above the long EMAs, 89and 233. So I should not have taken the first one. Or....
I should have taken both.....

As you can see I waffle back and forth on this.

When I took the short trade I questioned myself, it didn't feel right, didn't feel like the market was turning.

Feel. hmmmm.

Look at the angle of the short EMAs, look at how "tight" they are on the first trade. Compare that to the third trade.

Look especially at the 34 EMA, the second EMA, it has a nice angle up on the first trade and is almost flat on the short trade.

Was that my feel??

I remain waffled.

daytrader233 said...

I hope you plan on giving that money back! LOL

Still, damn good trading Sol.