Going to Post trades on OIL and DOW JONES in this thread with openings and Targets.
Maybe someone jumps on the train and finds it helpfull.
Edit: added trades on Gold and DAX aswell.
Aswell short and brief explanation about what the market is doing and “thinking” including f (actual and interesting) undamental reasearches here and there. Aswell explaining some price action and “why” i think the price will turn or continue at certain points.
Open short at 35.4
Stop Loss at 36.8
Take Profit at (around) 32.2
EDIT/UPDATE 29.02.16: The Brent Oil Trade did not went so good. The stop loss has not been met so the trade is still valid. But the initail reason for the trade is pretty much gone at the moment (there were 3 reasons, and only 1 stays valid still) so going out ofthe trade before stop loss is beeing hit would be advisable.
BUT ATTENTION please. with this possible trade You are going against a short term BULLISH trend. So basicly You are acting against the prevailing trend, and therefore it is more risky then usuall.
On the other side and a side note: the prevailing long term trend of Dow Jones since years beginning is bearisch so on the bigger scale this is a rade WITH the bigger trend. - Still risky
Short at 16670
Stop Loss at 16,830
Minimum Take Profit at 16,230
Next Take Profit at 16,130
EDIT/REVISION NEXT DAY:
The trade looked like its going to reverse but who sticked to the intial stop loss and did not panicly get out of it is in a good plus of 160 Points for today.
The stop Loss barrier was not endengared at all and the trade looks like its going to be a sucess within the next day or two.
After every 4 hours candle I will size into the trade untill the TP of 16230 is hit.
Oil didnt go as planned but still no stop loss triggered.
Dow Jones went choppy but as planned with a profit of 160 Points so far.
Staying in both trades it makes the day +/-0 asthe dow profit (so far) made up for the oil loss.
I will size into the dow position every 4 hours until the TP is met. between TP 1 and TP 2 i will not size into the position anymore.
brent is in london, im in europe, its my locality. other then that no real reason. they move in pair, so whatever happens in UK oil happens in US oil aswell. just a slight difference is that brent is more expensive but the movements and ranges are the same (not always but the differences r rare and minor).
Another factor is that brent moves stronger from my observation, WTI used to be cheaper then brent but lately they came pair to parein some occations but it is not the “natural” state so when it comes back to natural brent will be more expensive again giving few hundret points advantage to traders
Oil confirmed vadility of the first resistance line. The first resistance line is unlikely to hold, the possibilitie of its braking is high. This is still no setup to enter a short, further confirmation is needed.
The best setup would be a hit of the 45$ line then a clear sign to go short afterwards.
As i said in the post before that this setup is not a enter point yet. to most people it looked great to go short here but i said that the first line is unlikely to hold.
good shorting positions coming up this and the next week so the best thing to do now is wait as were still in a bullish trend and trends dont reverse in one day.
Hitting one of hard resistance lines - it was forseen that the line will not hold and wil be broken the next few days.
As of yesterday it got broken and now the price is lingering around there going up/down etc showing signs of uncertaintiy about its direction.
I still stick fuly to plan to start looking for shorts at the next line (the upper red-lined line) but contemplating with going long a bit till it reaches that point as there are nice 300 points to gain.
So right now im looking for good oppostunities to go a bit long (but this is a bit risky as votlity will be high the next days as long as the price is between those 2 lines it is very unpredictble), if i find one ill post it here.