I'm finna ride the tide with energy (oil)

61 0
Hey y'all. Because I do not know what is going to be talked about in the OPEC meeting today, and don't care to follow it (because I'm lazy as hell), I will only trade the market's reaction to the risk-event and use historical price analysis to make a trade decision today. To get a clearer sense of market sentiment, please follow the OPEC meeting (it'll bolster your trade basis). What I do know is that both the Russians and the Saudis have agreed to extend the oil production cuts to 9 months instead of 6. If the Russians and the Saudis agreeing on something doesn't shock you, it should. In the past, the Saudis have known the Russians to not deliver their end of whatever bargain they strike and so we'll see. While commodity traders will be all about oil prices and production e.t.c, I will be buying the US dollar against the Canadian dollar and double-downing (by double-downing I mean sell of the units I buy today and then short some more) on it tomorrow until market closes.

Another key data set to be released today is the US trade balance. Per Bloomberg, it is expected to reduce the size of revisions to GDP growth in the second estimates.

The blue-ish diagonal rectangle is my buy zone, although current market price is pretty close to it. I could play it safe and wait till price returns back to the zone, or I could be a lil aggressive and buy at market.

Also note that the pair has been trending down for the past 9 days and so each retracement to the diagonal support is short-lived and is only about 90 pips.

Trade smart and best of luck, y'all!
交易结束:到达目标: Hey y'all. Everything looks good! My first trade setup worked out and the target was hit within 24 hours of placing the trade netting me at least 90 pips. My second trade is active and it's a good-till-canceled trade. I set it up to close at the market's close by 5pm today and so I can focus on mitigating possible risks I'm exposed to and not worry about profits (or being greedy).

Hope it worked out for everyone too.
Trade Safe!
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出