14-07-2014 CRUDE OIL

14-07-2014

14072014

Previous Day is downside movement day . Crude oil open gap down and move side by side on upside now 30 rs up from opening price .think about long bias are positive .

Trade 1:-BPB OF PDL /RANGE HIGH 

BUY 6063 WITH SL 6055 Scratch the trade 6060 exit in 3 point loss 

NET=-3 Point

There is rejection of price PDC and PDL Suddnely price dripts down to MSP thinks Mkt change mood from bullish to bearish and bias goes negative 

Trade 2:- Short 6050 With SL 6057 Expected tgt 6041 or below that lets see ,EXIT 6057 With 7 Point Loss 

NET=-7 POINT Loss

Now my mind clear about rangebound mkt and think about BOF of range extremes ...till yet i am thinking about directional movement thats mistake by me . lets wait and watch just see mkt now Two SL Hit

Trade 3:- BOF Of Previous High 

Short 6066 wITH SL 6073 Expect mkt in rangebound mode and price will be come lower range Trade work on expected moved SL -6057 

SL moved to 6048 ,Exit 6041 

NET= 25 POINT 

Trade 4:- TEST OF MSP 

Short 6047 with SL 6053 Expect Previous low is tgt lets see ,...scratch 6050 

NET=-3 Point loss

 (Mistake for exit price @ 6042 two time rejected and make PIN BAR THIS is indication of price mood is opposite side ...i want to exit there just simple term )

Trade 5:- Short 6067 wITH SL 6073 Exit 6058 

NET=9 Point 

TOTAL=23 Point Profit