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Video / 05 October 2017 at 7:54 GMT

Why I'm looking to sell oil: O'Hare

Steve O'Hare - First 4 Trading
Steve O’Hare, of First4Trading.net, explains in a technical analysis of charts why he is trading Oil. 

O'Hare plans to sell OILUSNOV17 at $50.00/b and on a rally to $50.75. He has a stop at $51.00 and his target are $48.35 and $47.50.

O'Hare’s technical analysis of a selected trade is featured every week on Trading Floor.


05 October
ajith ajith
is your stop loss hit in crude oil.because my chart shows 51$ touched
06 October
MSN28 MSN28
Steve, hi! Is your idea still valid? Do you think now is a good time to buy?
06 October
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
No stop was hit on this idea. Intraday, signs are now positive for oil after the bullish engulfing (4-hour) and a break of the short term trend line. I will post our intraday idea shortly.
06 October
MSN28 MSN28
Thanks.
06 October
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Crude Oil (Adjusted for OILUSNOV17) - A Morning Doji Star formation has been posted at the low. Price action has posted a bullish Engulfing Candle and is positive for short-term sentiment. Broke the downward trending resistance line. Further upside is expected although we prefer to set longs at our bespoke support levels at 50.20, resulting in improved risk/reward. Our profit targets will be 51.20 and 51.50. Stop at 49.70.
06 October
ajith ajith
i think 49.70 stop hit
06 October
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Have been stopped on short-term trade also! The original idea looks to have suffered from poor stop placement.
06 October
DudetteUK DudetteUK
tricky markets
06 October
MSN28 MSN28
Tricky indeed. The original idea would have been good :)
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