Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

firewalker

Live Commodities Trades

Recommended Posts

I am leaving those while I can ....

I did no another couple of quickies netting +65..... too quick to post

 

but yes take the loss springs to mind...

 

Did you stick it out? I lost nearly 250 on oil last week, which was probably the inevitable result of making 750 profit the week before.

Share this post


Link to post
Share on other sites
A great trade FW - you'd best start trading commodities then...

 

Thanks.

 

I'm not planning on trading commodities, just thought I'd see what all the fuss was about :) Seems rather volatile indeed!

Share this post


Link to post
Share on other sites
A great trade FW - you'd best start trading commodities then...

 

The other half got stopped out at breakeven.

 

We made new highs too yesterday (almost $140 :eek:), but it is starting to look like some distribution...

Share this post


Link to post
Share on other sites

no more oil trades since last month?

 

The congestion from June seems to be distribution like I said at that time. However, the first sign doesn't mean the trend is over, and as the trendline was still not broken at that time. Since this week, the steepest line has been broken and we've moved below that huge congestion...

 

So to sum things up, I'd be surprised if we see $150 somewhere in the future, and I think in due time this market will come off.

Share this post


Link to post
Share on other sites

Fortunately I changed my stance and decided to wait for it to decisively break out of its up channel before shorting it again. Am short since yesterday looking for sub $120. Have to be vigilant for 'shocks' though - am sure it won't come off in an entirely orderly fashion, but I concur with you in expectations.

Share this post


Link to post
Share on other sites

Commodities follow different rules than indices. Often after the top is set, a sharp sell-off occurs, where as in equities there's usually a need for distribution. This is basically what we are seeing in oil.

 

The odds favour price being attracted by $ 112-113. After that a rally should follow, but some time of consolidation is possible. Be interesting to see this turn out.

 

attachment.php?attachmentid=7488&stc=1&d=1218440287

qm_daily.thumb.gif.4a99069bc702b78333057efd5fe0bf1e.gif

Share this post


Link to post
Share on other sites
Commodities follow different rules than indices. Often after the top is set, a sharp sell-off occurs, where as in equities there's usually a need for distribution. This is basically what we are seeing in oil.

 

The odds favour price being attracted by $ 112-113. After that a rally should follow, but some time of consolidation is possible. Be interesting to see this turn out.

 

 

And this is what happened next...

Exactly as I said :cool:

 

attachment.php?attachmentid=7502&stc=1&d=1218491515

oil_20080811.thumb.gif.6f0fd32e4f47209498030a8adaf33e0d.gif

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.