I got in last night..working well to this point.. ____________________________________________________ TradEStar Registered: Mar 2004 Posts: 419 10-30-07 07:30 AM I have not been short oil in a long time, but last night I entered a SHORT swing trade after a perfect higher time frame signal followed by a great candlestick. I took profits for 1/4th of the position at 92.51 and I have another target at 91.51 to pull off another 1/4th. My stop is now at 93.50 and my target over time for the remainder of the position will be 83.51 and then 73.51 . ____________________________________________________ http://www.elitetrader.com/vb/showthread.php?s=&threadid=107883&perpage=6&pagenumber=5
Congradulations ! ! ! ride the trend down . . . . I'm happy with my little slice of the pie everyday.
nice trades! What signals did you use to go short? I think the oil market still wants to punish the "top pickers" at this point.
I have a short term trading model that I designed to give clear signals. I mostly use it to take $0.50 profits. . . . but at times I can also ride the trendline for larger profits. I use multiple time frames and various oscilators. Works very well
This market still has massive spec long positions that have yet to be unwound. got short today at 91.70, looking to take half off at 85, other half at 80.......tomorrow will be telling as to where the market will finish off the year imo
I use MACD's in two time frames. . . one short one and one longer one. . . and only trade in the direction of the longer one's oscilator. Enter off pattern breakouts. The combination of the three factors works very well.
I use the 15 minute chart to look for position trade entries like the one I entered last night. I trade using the Stochastic and MACD per the same methodology I trade on all time frames. All my discretionary trading is using the method I learned from Felton Trading, which I apply with my intra-day scalping and my higher time frame position trading.