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FuturesPros Daily Analysis March 3, 2010
Crude Oil Visual Trading Update
Current Trading Plan: Position: OUT Last (01-03-2010) Closed position @ 79.00 (+$0) Long: Above 81.00 Short: Below 79.00 Exit by Stop Loss: -- Technical Indicators Notes: Last time we said: "Range bound. At the highs. It is a wide range, but a range nevertheless. Usually, ranges are continuation patterns, so we have a bias for the LONG side, but because it is so well defined, and because ranges are all over the place, we want to wait for more hints." No big change. If you consider the move in GOLD, this asset is in sleeping mode, while being in the same asset class: commodity. (Look in GOLD commentary for more). We have drawn, two small new trend lines that show a potential for the downside, and therefore we set our SHORT entry level higher. RSI-STOC Combination: Neutral. ATR: Getting to a level where volatility starts to increase. MACD: Daily in a positive setup and momentum but H4 indecisive. Charts Legend: In Price Window: Simple Moving Average (20): Green Bollinger Bands (20,2): Violet Support & Resistance price areas: Pink and Light Green areas Trend lines and Channel Boundaries: Blue Elliott Waves Counts: Black and Blue numbers In Indicators Part: RSI (10): Blue, STOC(5,3,3): Green, ATR(5): Blue MACD (12,26,9): Blue, Signal: Red, Histogram: Green Indicator trend lines and effects: Magenta Signals: Long: Above the Green line Short: Below the Red line Exit position: On crossing the Cyan line SL in case of triggered level: Dashed Cyan Line --- analysis written by Moshe Shalom for . --- Disclaimer Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. ________ Last edited by futurespros : 05-07-2011 at 11:27 PM. |
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