CRUDE OIL 02 JULLY 2014

02072014

Gap up open ..but since morning trend is down . market is in

sell mode .now find the opporchunity to sell on rise or find

selling area.

Trade 1 :- TEST

Short 6283 WITH SL-6286

(Expect price will go to recent low 6376 its intial target )

move sl 6272

moved sl 6268 which is recent pullback area

Trail SL Hitt 6368 trade close.

there is ADP Employment data which is effective ...and take

sharp action .


NET= 15 Points



TRADE 2:- BPB

Short 6266 WITH SL 6273

(EXPECT intial tgt is recent low which is 6257 ..lets seee)

exit 6266

NET =0 points

there is some consolidation and price not fall below that

..think to scratch this trade ..and wait for nextt move .



MISTAKE :- exit early cause of fear ... and trade move as expected ...this mistake reapeat today also ...yesterday same happen as ..early exit from trade ... note down this .....



Trade 3 :-TST,BPB

SHORT 6260 WITH SL-6367
(Expect price will breaak recent low and make new low cause

of negative bias ..and its major trend )

Trail SL moved to 5256
 wHICH Is recent minor high


Trail SL 5250 which is recent low ...if hit will exit  lets

see

s

SL hitt

NET =10 Point


CRUDE OIL Inventory ...caution ...do not trade on inventory

...its rule ..and want to follow it


Trade 4 :-BPB

Buy 6275 wITH SL 6265


(Expect intial tgt PDL which is 6290 )

EXIT 6278

NET = 3 Point profit


MISTAKE NO-2 Again early exit and after that trade move as i expect ...i have fear price will fall below my buying level thats why i exit above my cost ...and wait....now price will go up lik e mad ... todays second mistake ..it is ...



There is perfect H&S pattern on one min.chart ,if it break

neckline its good short trade intiated ..but i trade only DP method trade practice ...just pure study on trade on iT  .H&S WORKEDDDD...like mad ..butt not trade...


Trade 5 :-BOF
BUY 6250 With SL -6240

EXIT 6244

NET= -6 Point loss

Mistake - dont take direct trade ...let watch ,calm, in present mind and cool in front of screen