Descending Triangle on BPCL. Trade: Short below = 701 Target = 694.50 Stop loss = 707.50
OIL is a beautiful example for the aforesaid pattern except its up-sloping Neckline as pattern with near Horizontal Neckline performs better. The pattern looks like normal head-and-shoulders except either with multiple shoulders or multiple heads but rarely both. It performs better than normal Head & Shoulder and trading rules are the same.
Symmetric Triangle on Coal India Trade Buy above - 318 Target - 320.60 Stoploss - 316
Let It Break decisively. Till then you can take advantages of intra-day short ranges. But do that with strict risk management. Finally the pattern at present looks Bullish, BUT it can go either way. Because on the flip side of it - COT reports are Bearish, open interest is at record high and Commercials are record short(more than they were at 2014 drop from...
The down move is looking exhausted. Look for good long setups on lower time-frames, with strict stoploss
Still has upward bias in longer time frames. just looking for good buy setups on D/240 min charts
Still Playing between the two Levels & DIRECTIONLESS Until it breaks either level convincingly, look for small and short term trades on lower time frames. I will personally have a short side bias.
I am planning to short Crude oil if it breaks down in the evening US session, using lower timeframes for entry. Nice Risk Reward
Last week's price action was shaky and scary. But i am still holding on to my bullish opinion. Looking for Buy setups in smaller Timeframes
Both the Levels STILL Holding Nicely. Have Patience
Beautiful Wolfe wave trade with good Risk to Reward ratio may give a good start for the NEW YEAR 2017 for my trading mates. Wishing you all to be prosperous.
USOIL looking out to break the strong resistance of 51.65 level. Once if the price break the 51.65 level the further uptrend may come upto 61.15 level. It's a short term recommendation. Trade: Buy above = 51.70 Target 1 = 56.60 Target 2 = 61.05 Stop Loss = 45.00 Total Reward Points = 9.35 Risk Points = 6.7
After the successful retest, no harm in getting bullish Natural Gas. Seasonal tendencies are Favourable during this time. BUT one thing that is concerning me is Commercials getting Bearish. But that can happen and its OK. Still my advice is to keep a strict stop loss and TRAIL it.
I will Favour Shorts Below 49.50 and Longs above 54.50 with bias towards Shorts Happy Trading and Happy Christmas.
Gap UP on Monday, Distribution and the kind of price action of last 2 Days, I am staying away from this market for the time being. i will be interested in going long only between 55-60 Level.
In Continuation with my Last weeks commentary, I am patiently waiting the test of the Breakout AREA. However keep in mind, The intensity and structure of the test will be very crucial before taking a decision to go Long. But Seasonal s and Technical s Favour LONGS. Happy Trading NG!!!
Crude Oil Again Testing the Crucial 50-52 Zone/Area. If it fails to break UP here, it could well be formation of Triple TOP. With COT Commercials Starting to turn Weak this may well happen. But i am not in a hurry to Jump to Conclusions. I will be interested in this market ONLY if Either it starts closing above 52 on Daily Charts (For LONG) OR it Starts closing...
An inversely related stock price action to index has witnessed a strong rally of ~40% since March 2016. After a small pause (consolidation), the price are showing sign of breakout. Looking at the RSI (Relative Strength Index), the breakout from falling trendline and bullish crossover on MACD indicates price is ready for the rally towards 460-500.