iCharts Discussions

[amitagg]

[amitagg]

Crude shall give some points on downside possibly back to 2945-2950 if breaks 2984....... Which has been tested over the past hour and more manu times and in the reversal level on daily .......(2970-2980 is good support) but 2984 breaking would quite likely break it...... CMP2995

Abcde parallel done from bottom 2791/2643. ...... And ABC retrace in progress..... Whether a flat or zigzag to see.......in case it still moves past 3025..... Expect 3100

Let's see..... TRend is though still bullish at Cmp

[amitagg]

Closing in bullish territory still

[AMBY]

THANKS FOR YOUR FRESH INPUT FOR CRUDE WITH LEVELS,

[amitagg]

Only 3080-3100 is first resistance ...... Intra 3064 .... And then 3145 level

I have traded only Rahul ..... Not self or C.....

Rohan and self technicals supporting.......

I am now open to both up and down since the trade for the day is mostly already done....... After 8 30 etc shall look for other trade if there is any

[AMBY]

THANKS, DO UPDATE AFTER 8.30 P.M.

[amitagg]

Cmp 3035...... Immediately after data can hit 3060-3065 levels...... It is preferred to be safe to not short today .......(except thru on looking intra chart)

Not taking long since Rahul long done and stop is now far away so RR not in favour

[amitagg]

Data worse than expected immediately hit 3003 odd and then back to 3029 odd and not 3008...... I would refrain from any short .... Do not trade until clear trend move begins ..... Remember yesterday also it was gyrating 2970-3030......

[amitagg]

Above 2940 one cannot be certain it shall not rebound .......
Above 2983 it is certainly not bearish
2973 is important support +- 10 points or so
Yesterday I remarked 3025 holding is important for uptrend
Abcde price move is compete at 3047 yesterday
Often days like this next day or so decides the trend .......

[AMBY]

thanks for quick update.

[amitagg]

Closed 3100 ..... Had sneaky long feeling therefore entire day.... Resisted short and resisted self..... One paid off and other did not ( lost opportunity)
Actually me Rohan long triggered late and I wished not to enter.
I would short 3145 ( bid) intra if it hits.......( lower boundary) can rise to above 3185.......nymex resistance is 51-52.5 though

If it clears 55, people would see the still unseen monthly double bottom break of 45-55, to hit 65 dollars which big players expect for the year........

[AMBY]

I ALSO RESISTED TO SHORT AT 3100+,
NOW CRUDE IS @51.41 ( HIGH 51.93),

I WOULD LIKE TO SHORT NEAR HIGH FOR INTRA.

PLEASE DO UPDATE.

[amitagg]

Just seeing the post ..... Did short staged till 3257 and covered 20 points down........ 3236-3269 was great supply level...... But luckily was busy otherwise would have shorted and have been stopped at he huge spike..... Never could have thought above 3330.......

Stop loss for intra shorts for others could have been 3270-3280.

....... Also let me add that I did short late yesterday at 3080 level and got out near cost...... Since have learned to not carry overnight and not be greedy and not imagine counter trend except when in midst of high profits .......which are coming at continuously reducing run rate......

Don't expect closing above 3257-3290 and hence can short intra all day.....preferably at high level.... ( it possible that if market is above 3185 it can consolidate at current levels and move up again).......for any short book when see profit and add another only higher that previous one........
( this is not to say that tomorrow or next few days may or may not be bullish )

Or long 3210-3230 similarly for small profits with stop 3180)

Or wait till 6 pm trade

These are alternate starategies for individual risk and trading profile

If there is a sudden 30-40 spike , sell the highs........with stop 3310

Cmp3240

[amitagg]

[AMBY]

THANKS FOR YOUR VIEW.