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Trading Crude : A level approach


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Trading Crude : A level approach

  #21 (permalink)
St. Louis Mo., USA
 
 
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received

Unless we can pop up above 106.75 and hold that for more than a few minutes, 105.90 is the next downside target.


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  #22 (permalink)
St. Louis Mo., USA
 
 
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received

Bounced off of 105.9, now will wait to see how price reacts to this level before attempting to pick the next upside / downside level.


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  #23 (permalink)
St. Louis Mo., USA
 
 
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received


No chart, will attach later. As I see it 105.30 (former level) is now the battle line to determine if we go down and touch 104.44 or we break thru and rally back up to 105.9

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  #24 (permalink)
St. Louis Mo., USA
 
 
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received

Correction ... If 105.3 level holds then 104.58 would be the next downside target. It is the 2nd standard deviation daily level. Price rarely blows past that 2nd level in one day. 105.9 is still the upside target should 105.3 not hold.


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  #25 (permalink)
St. Louis Mo., USA
 
 
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received


Satch Boogie View Post
If 105.3 level holds then 104.58 would be the next downside target.


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  #26 (permalink)
St. Louis Mo., USA
 
 
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received

Have found at least temporary support at the weekly level mentioned earlier at 104.44. Would love to see a push here to 105.58 area if we can get it. Would be looking to short in that area if price stalls.


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  #27 (permalink)
St. Louis Mo., USA
 
 
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received

Bounced off of 1st daily level of 104.08 If we get continued selling pressure the remainder of this week and early next week, then we will re-test the 1st monthly level of 102.80. We bounced off of the 2nd std dev monthly a while back as posted earlier.

There doesn't seem to be much interest in level trading here. I think it just doesn't feel right for many. Trading tick by tick is exhausting, at least for me.

If you think these levels have any merit and could be useful in your trading drop me a msg. I have found over the years that these levels are also calculated and used by many option traders so imo these are definitely not voodoo numbers.

Happy Trading


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  #28 (permalink)
St. Louis Mo., USA
 
 
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received


Satch Boogie View Post
Would love to see a push here to 105.58 area if we can get it. Would be looking to short in that area if price stalls.

Short here. Chart to follow.

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  #29 (permalink)
St. Louis Mo., USA
 
 
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received

A break AND hold above 105.90 and this short will be exited. Otherwise the weekly would be a nice place to reduce size and let the rest ride to see if the monthly level mentioned earlier of 102.80 is in play.


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  #30 (permalink)
St. Louis Mo., USA
 
 
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received



Satch Boogie View Post
Would love to see a push here to 105.58 area if we can get it. Would be looking to short in that area if price stalls.

A break AND hold above 105.90 and this short will be exited. Otherwise the weekly would be a nice place to reduce size and let the rest ride to see if the monthly level mentioned earlier of 102.80 is in play.



15 min chart of where this trade is at currently. Roughly 70 ticks profit at this moment. Will watch to make sure that does not all evaporate if we should find some buyers this morning.


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