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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8929
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Apr 8, 2011 17:08
113 to 113.60 next key level
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Apr 8, 2011 17:03
I assume you will act on some kinda signal or are the fundamentals telling you something ? Oil correlation chart been indisputable last 8 to 10 days !
Gunjack
London, UK
Posts: 1184
11 years ago
Apr 8, 2011 16:51
@Qingyu I will short crude...am waiting maybe next week as not keen on holding over the weekend and for it to spike up on sunday night asia trade
Qingyu
manchester, UK
Posts: 1763
11 years ago
Apr 8, 2011 14:40
well, someone short crude, but not me...
cat0nip
Frankfurt, Germany
Posts: 1632
11 years ago
Apr 8, 2011 12:12
Who would equipped with and using whatever instruments go short oil with all the turmoil in middle east???
I said here a while ago I don't trade oil but am long in gasoline and heating oil and gasoil ( diesel) futures ... I don't have to be a prophet
DaveO
UK
Posted Anonymously
11 years ago
Apr 8, 2011 11:27
Gunjack, yea done well on the instruments I been covering here. The thought that occurs to me, which I hesitate to mention for fear of sounding ever patronising, is the room has been largely perma bear. The tendency of guys here has been to look for shorts every time we break up from a minor correction. Instead of climbing on board the higher trend !

The higher prices move the more psychologically difficult it is for traders to jump in so the disciplined trader simply stands aside in frustration and the undisciplined trader constantly attempts to fade the trend. Fading the trend is taking the path of most resistance so have to be extremely nimble. Going with the trend is much easier and more profitable.

What I try to do is to take profit off along the way at target levels and keep moving stops up in a long trade. If I get finally stopped in a ret I might then play south but only with a scalping mentality until such time as the higher trend looks to be reversing. So every time a minor ret looks like it has completed I am back looking for the higher trend entry set-up and start the process all over again.

Trying to program our minds to look at charts objectively is not easy when we are getting bombarded with a constant stream of fundamentals information plus everyone elses opinions. Its very difficult to become impervious for chart analysis.
Gunjack
London, UK
Posts: 1184
11 years ago
Apr 8, 2011 10:29
Dave have you been long CL for a while now? You must be counting the shekels lol!!
rim
Turkey
Posts: 121
11 years ago
Apr 8, 2011 10:01
Dear Ashraf ,

What is your opinion on Gold / Oil Ratio and Gold / Silver ratios , Resistance and support levels ?

Thanks.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Apr 7, 2011 21:56
Gold also hit target today 1466. Trailing stop now in place. 1509 would be next port of call for more upside but bound sure to have a ret before then.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Apr 7, 2011 21:51
well crude made my 109.87 target level today. Next beer stop a jump to 113.55 ish, trailing stop in place.