voloshin00efim 

While I was writing the previous post, I missed a good moment and took Long late. If I had looked earlier, I would have taken a position in the area of ​​81.47-81.48. At the Asian session there was supply, at the EU session Demand increased, the price went up. but on CL demand(or supply) is quickly drying up.

In continuation of our discussion, I put marks on the Chart to understand how I see the situation today.
#CL Short
Supply on Asia session--break up with Demand(my late long)--Test High, Demand dried up--Pullback(test breaking zone, no demand)--exit down(Supply>Demand, but no critical Value)--Pullback(test breaking zone+Pattern124). No demand.


#CL Long
Movement down--Supply>Demand, but not increasing to much--Huge Demand, Easy movement

voloshin00efim 

While I was writing the previous post, I missed a good moment and took Long late. If I had looked earlier, I would have taken a position in the area of ​​81.47-81.48. At the Asian session there was supply, at the EU session Demand increased, the price went up. but on CL demand(or supply) is quickly drying up.

Not sure how you gauge demand and supply shifts. Are you in retrospect saying the demand increased because the price went up, or did you forecast that demand increase, and the price would therefore go up?

I was up two trades today, 3% of my account, then I fat-fingered the EIA report and sold instead of bought while video-conferencing my long-distance gf. So instead of being up over 5%, I'm just up 1,6%.
Sigh, always another trade, right? I'm exacerbated, so no more trading for me today.

kummi90 

Not sure how you gauge demand and supply shifts. Are you in retrospect saying the demand increased because the price went up, or did you forecast that demand increase, and the price would therefore go up?

If you are talking about the Indicator on the chart, then Green (light green) blocks are Demand,
red (pink) - supply. The value next to it is a certain numerical characteristic. I compare what happened with what is happening now. Lower indicators provide additional information about the strength of Demand/Supply. The higher the value, the higher the "importance". So if indicators shows more demand and price moves up, for me it is better to have long. Of course, there may be more complex schemes. the market is a dynamic thing

kummi90 

I was up two trades today, 3% of my account, then I fat-fingered the EIA report and sold instead of bought while video-conferencing my long-distance gf. So instead of being up over 5%, I'm just up 1,6%. Sigh, always another trade, right? I'm exacerbated, so no more trading for me today.

1.6 is also good, cause this is a positive value. why did you decide to sell?

voloshin00efim 

If you are talking about the Indicator on the chart, then Green (light green) blocks are Demand, red (pink) - supply. The value next to it is a certain numerical characteristic. I compare what happened with what is happening now. Lower indicators provide additional information about the strength of Demand/Supply. The higher the value, the higher the "importance". So if indicators shows more demand and price moves up, for me it is better to have long. Of course, there may be more complex schemes. the market is a dynamic thing 1.6 is also good, cause this is a positive value. why did you decide to sell?

My short just worked, maybe it will drop to 82

#CL Short
after news there was a demand, but it dried up. After then a supply appeared.

voloshin00efim 

If you are talking about the Indicator on the chart, then Green (light green) blocks are Demand, red (pink) - supply. The value next to it is a certain numerical characteristic. I compare what happened with what is happening now. Lower indicators provide additional information about the strength of Demand/Supply. The higher the value, the higher the "importance". So if indicators shows more demand and price moves up, for me it is better to have long. Of course, there may be more complex schemes. the market is a dynamic thing 1.6 is also good, cause this is a positive value. why did you decide to sell?

That's very true
I see! What are the two indicators under the price graph? Volume histogram?

Oh, I fat-fingered the trade. Meaning, I sold by accident. The intendent move was to buy, but because I was distracted, I didn't see that the trade was short instead of long.
It really pissed me off, haha. One thing is being wrong about the market, another is to make stupid mistakes. Trading is hard enough without you making it harder for yourself to stay in the green

Do you look at daily price and SMAs do determine intra-day bias?

I try to look at seasonality, so I will tend to have a bullish bias until September, but will also take small short scalps if I see a set-up. Price is just ranging. But all I want is 30 cents a day
Oil can be volatile, but I like the action, plenty of cents to be made. I will try to learn it's price action personality. I also want to incorporate fundamental analysis, but not sure how yet.
I try to risk about 1% of my account per trade, but sometimes my stop is too tight. I get shaken out of the trade, just to watch it rip half an hour later Constantly learning!

Hmm, still not sure exactly how you derive at supply and demand zones. The indicators? Is it literally demand and supply, or is that just your take on it, your interpretation?

kummi90 

That's very true I see! What are the two indicators under the price graph? Volume histogram?

no, it's some calculation to show cumulative Demand/Supply

kummi90 

Oh, I fat-fingered the trade. Meaning, I sold by accident. The intendent move was to buy, but because I was distracted, I didn't see that the trade was short instead of long. It really pissed me off, haha. One thing is being wrong about the market, another is to make stupid mistakes. Trading is hard enough without you making it harder for yourself to stay in the green

kummi90 

Do you look at daily price and SMAs do determine intra-day bias?

No

kummi90 

I try to look at seasonality, so I will tend to have a bullish bias until September, but will also take small short scalps if I see a set-up. Price is just ranging. But all I want is 30 cents a day Oil can be volatile, but I like the action, plenty of cents to be made. I will try to learn it's price action personality. I also want to incorporate fundamental analysis, but not sure how yet. I try to risk about 1% of my account per trade, but sometimes my stop is too tight. I get shaken out of the trade, just to watch it rip half an hour later Constantly learning!

Hot weather, car season could push price up.
If you trade intraday or several days fundamental analysis doesn't give you an entry point. it 's my opinion.

kummi90 

Hmm, still not sure exactly how you derive at supply and demand zones. The indicators? Is it literally demand and supply, or is that just your take on it, your interpretation?

with indicators and of course with my interpretation

voloshin00efim 

no, it's some calculation to show cumulative Demand/Supply No Hot weather, car season could push price up. If you trade intraday or several days fundamental analysis doesn't give you an entry point. it 's my opinion. with indicators and of course with my interpretation

Oh, I agree fundamentals doesn't give you an entry point, but it does give you a bias.
To put it this way: Objectively speaking, if price is going up 70% of the time, then having a long bias gives you an edge.

That being said, it is entirely possible to make money trading which ever way intraday. I just feel that, as a beginner, I owe it to myself to find the best edge I can.

kummi90 

Oh, I agree fundamentals doesn't give you an entry point, but it does give you a bias. To put it this way: Objectively speaking, if price is going up 70% of the time, then having a long bias gives you an edge. That being said, it is entirely possible to make money trading which ever way intraday. I just feel that, as a beginner, I owe it to myself to find the best edge I can.

I will assume that after studying what relates to fundamental analysis, you will change your goal “But all I want is 30 cents a day”, for example, to 3000 in six months. And you will trade middle or long term. Or, you will look for another trading method.

Short
break down Pattern(220) with increased supply.