k314
Long

Crude oil buy setup - Triveni sangamam

TVC:USOIL   CFDs on WTI Crude Oil
Buy USOIL at cmp (71.30+)

T1: 73.00
T2: 74.50
T3: 76.80

SL: 69.90
Trade active:
Comment: Made a high of 72.68 and missed T1: 73 by a close margin
Trade active: Took support at the trendline again
Trade closed manually: Closing trade at CMP (70.80) at loss after two failed attempts to meet T1: 73 by going very close by and now the trendline is broken.

Comments

chart levels are not identified here. I have shorted for 69,68
Reply
k314 siddmuk2005
@siddmuk2005, Which levels are you talking about?
Reply
+1 Reply
k314 siddmuk2005
@siddmuk2005, All the best. Cheers :)
Reply
siddmuk2005 siddmuk2005
@siddmuk2005, You missed daily ADX and RSI which sufficient to tell chart story where it will go
Reply
k314 siddmuk2005
@siddmuk2005, I do not use ADX in my trading system. Instead I use Bollinger bands and moving averages to measure volatility and trend strength.
I use MFI which is volume weighted RSI. While I welcome counter opinions, I make sure only arguments backed with logical and analytical reasoning are considered.
I did my home work before publishing the chart based on my trading system and have conviction in my analysis. Having said that I wont be disappointed to be wrong and book loss :)

PS: I disregard your way of drawing trendline. Its neither body to body nor wick to wick. Its simply drawn to fit your preconceived opinion :) Pls dont take it personally. If it works well good for you.
Reply
@k314, All the best for trade :) Enjoy . End f day we should make some money for our future. Chart is all about data pattern that forms by big investor and Oil sellers
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out