Crude oil buy setup - Triveni sangamam Long

TVC:USOIL60

WTI CRUDE OILTVC

Description

⋅ Oct 12, 2018 3:05 PM

Buy USOIL at cmp (71.30+)

T1: 73.00
T2: 74.50
T3: 76.80

SL: 69.90

Trade active

⋅ Oct 12, 2018 4:41 PM

Comment

⋅ Oct 15, 2018 6:29 AM

Made a high of 72.68 and missed T1: 73 by a close margin

Trade active

⋅ Oct 15, 2018 2:37 PM

Took support at the trendline again

Trade closed manually

⋅ Oct 17, 2018 2:02 PM

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

siddmuk2005

⋅ Oct 12, 2018 4:04 PM

chart levels are not identified here. I have shorted for 69,68

k314

⋅ Oct 12, 2018 4:08 PM

@siddmuk2005, Which levels are you talking about?

siddmuk2005

⋅ Oct 12, 2018 4:10 PM

@trex88,

k314

⋅ Oct 12, 2018 4:11 PM

@siddmuk2005, All the best. Cheers :)

siddmuk2005

⋅ Oct 12, 2018 4:11 PM

@siddmuk2005, You missed daily ADX and RSI which sufficient to tell chart story where it will go

k314

⋅ Oct 12, 2018 4:26 PM

@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.

siddmuk2005

⋅ Oct 12, 2018 4:50 PM

@trex88, 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