I took a couple of trades in the morning, but the overnight trade had already taken all the cheese.
Once the "asset purchase" bill (don't say bailout) failed the market was too volatile for me to trade.
Where we go from here, I have no idea.
Showing posts with label 15 minute crude oil chart. Show all posts
Showing posts with label 15 minute crude oil chart. Show all posts
9/29/2008
Now What?
15 Minute Crude Oil Chart (click on chart to view)
I took a couple of trades in the morning, but the overnight trade had already taken all the cheese.
Once the "asset purchase" bill (don't say bailout) failed the market was too volatile for me to trade.
Where we go from here, I have no idea.
I took a couple of trades in the morning, but the overnight trade had already taken all the cheese.
Once the "asset purchase" bill (don't say bailout) failed the market was too volatile for me to trade.
Where we go from here, I have no idea.
8/01/2008
Trading The Trend
I am using the 3 minute chart for direction and trend identification. Today we only saw one trend that I could trade, long as shown on the first chart.
There were short moves on the range bar chart that you could have traded after that but the 3 minute didn't get there until the end of the day.
Patience is a virtue.
So I'm told.
(click on charts to view)
The daily crude oil chart seems to have found support on the 89 EMA (yellow) as it has been on it for 8 days now. It will be interesting to see if it holds or drops down to or through the 144 EMA (blue).
There were short moves on the range bar chart that you could have traded after that but the 3 minute didn't get there until the end of the day.
Patience is a virtue.
So I'm told.
(click on charts to view)
The daily crude oil chart seems to have found support on the 89 EMA (yellow) as it has been on it for 8 days now. It will be interesting to see if it holds or drops down to or through the 144 EMA (blue).
5/15/2008
Another Crude Oil Prediction?
I believe I may have fearlessly predicted the top in crude oil on April 24, 2008, with oil trading well under $120.00.
So with that enviable track record on crude oil price predictions I shall not venture there again.
I will however, mention the daily candle formation today known as a doji. This particular candle formation is supposed to mean a change in direction is possible.
But I will make no such prediction.
The downward moves today were wild and fast, but by the end of the day price had crawled back up to finish basically flat on the day.
I'm glad I don't have to make that direction call, as every day, day after day, I just trade what I see.
Daily Crude Oil Chart (click on chart to view)
15 Minute Crude oil Chart
Since corn is now considered a fuel I thought I would take a look at the July corn daily chart. We also see a doji candle on May 9th and then see price moving down and through the 34 EMA.
All interesting items to note, but to place a long term trade to the short side in either crude oil or corn would take some courage at this time.
Eventually what goes up comes down.
The question remains when.
Daily Corn Chart
So with that enviable track record on crude oil price predictions I shall not venture there again.
I will however, mention the daily candle formation today known as a doji. This particular candle formation is supposed to mean a change in direction is possible.
But I will make no such prediction.
The downward moves today were wild and fast, but by the end of the day price had crawled back up to finish basically flat on the day.
I'm glad I don't have to make that direction call, as every day, day after day, I just trade what I see.
Daily Crude Oil Chart (click on chart to view)
15 Minute Crude oil Chart
Since corn is now considered a fuel I thought I would take a look at the July corn daily chart. We also see a doji candle on May 9th and then see price moving down and through the 34 EMA.
All interesting items to note, but to place a long term trade to the short side in either crude oil or corn would take some courage at this time.
Eventually what goes up comes down.
The question remains when.
Daily Corn Chart
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