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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8935
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Apr 6, 2011 12:49
interesting that both oil reporting agencies have very different veiws on the weeks inventorys..one calling for a build of 1.8mb/ the other saying a draw down of 2mb..why is the site constantly asking me to sign in for every post:(?...gl/gt:)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Apr 6, 2011 12:45
ashraf tweeted earlier about a strong messege being sent with the print of 143 ahead of ecb rate decision..i wonder what the strength of the eur will be heading into the rate decision will traders actually leave all profits on the table or will we see a nice pullback(100+pips)just incase there is a suprise..the current rally(2-3mth) has all been about ecb&boe raising rates an 1 cant deny there is solid aguements why/whynot to raise rates..hopfully we see a nice break to the downside to shake off some of this over confidence in the markets but at the moment its full steam ahead:(..ok gl/gt:)
chloethebull
Canada
Posted Anonymously
13 years ago
Apr 6, 2011 12:37
hey daveo..yup stops are good but lossing is still lossing just not as much :(..lol..and i do follow dave&ric..ric has out a good set-up short analysys on audusd..have u seen it an do u agree(i think your calling for poss 1.05)..also have u been able to chk out 50pips yet i missed this week webinar due to vaca&traveling home:(..ok thanks and gl im long usdcad @ 9585:)..4ever the fade trader lol..one of these times it;ll pay me just hope i around to be in lol:)
DaveO
UK
Posted Anonymously
13 years ago
Apr 6, 2011 12:14
And Chloe, hope you are following DaveCharts/RicCharts. These guys are very good traders and their analysis is quite simple and logical. All of what they do I employ myself. I have not yet got to the bottom of NourHamoury. My impression so far is he likes the sound of his own voice on Twitter but where is his substance? Is he teaching Gann or just showing his Gann levels ?
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 6, 2011 12:01
Very good yer using hard stops now Chloe and often you can find trade set-ups which will accomodate very tight stop based upon logic. I agree with Gunjack bout that 106.30/40 level if trend support is broken.
Gunjack
UK
Posted Anonymously
13 years ago
Apr 6, 2011 9:13
@CHLOE if you are short CL look for 107.50 and 107 as first levels of support where buyers will rush in...below that the t/line of 106.40 is also a good level for buyers...anything below that and the shorts will be in play.
Tho I have to agree with Dave's analysis that CL is looking like it has more upside than downside. You just have to look at the correlation between ES and CL to see if ES regains the 1340s handle CL will look for an excuse to rally to 110. IMHO I will look to be a buyer after todays inventory numbers especially if there is a large build at cushing and we get an o/extended drop in price
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Apr 6, 2011 2:10
and yes i tend to try to fade trends..no on purpose but when i c a new high based on things i don;t think are correct i try to step in and capitalize on the move/correction down..but to b honest it usually goes against me..thats why i started to use stops now only willing to lose X amount from here on out..kinda like sitting in a poker hand @ some point we have to b willing to lose somthing well that somthing is my stop price lol..thanks daveo gl:)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Apr 6, 2011 2:03
thanks daveo...im watchn it and i put a stop on it..so im only willing to lose a lil if it goes higher..i shorted it last week @ 106.50..stop @ 10710..so i then waited to try 10800 level stop @10850..thanks and gl:)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 6, 2011 1:40
I fear I may have upset asad. I made a derogatory remark about his analysis "his gut feel". I Like something more substantive to support a position than pure gut feel. oops, I didnt mean to appear rude.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 6, 2011 1:32
Chloe the audusd short trade made exact symmetry for typical corrective. I am still expecting higher prices. I just felt like a breather from being long so shorted when it seemed to reject the channel resistance. Banked profits from 9990 to 1.0340 and then caught some pips on the ret down.

I am still long CL. You fade trends at your risk and often your peril. Constantly looking to fade a trend is typical of many retail traders but anyway I wish you gl, you might catch some further downside before it breaks that 100% level c.108.70's. Of course I could be wrong and the top is in but the chart is not telling me that yet.