Call of the week -- crude

Call of the week, 7th aug 2016

Go for buy crude above 2822, only if cross & sustained above the figure. for the big tgt of 8121. Or sell below 2715 if breach and sustained below, tgt will be big and open. Keep sl of 2780 for the long position & 2760 for short position. Between these two levels, there is "no trading zone" for me because of no conformation of trend.

Crude price tried 3 times to cross 2820 but failed. As a result this figure convert in solid resistance. Same thing happened about 2720 level. On hourly chart, 5 candles got support there. As a result this level convert in strong support.

Looking @ this scenario, I will enter in trade only after breaching of either level, may be short or long. I am not at bullish or bearish side. I want to be with right side.

I will update this call. Keep watching, for timely update follow me on twitter & G+ & subscribe via email.

 Update 1 -- 8th Aug 2016, 01.08 Pm

Buy call activated above 2820 & cmp is 2835, now trail the sl to 2800 from 2780. thank you.

Update 2 -- 8th  Aug 2016, 03.57 Pm

Trail sl to cost which is 2820, cmp is 2843, book partial profit around 2850. Now we are in safe chair, enjoy the profitable trade. For latest updates, subscribe this blog via email, follow me on twitter & G+.

Update 3 -- 8th Aug, 06.55 Pm

CMP is 2855, trail sl to 8235 from 2820, now we can call it as profit lock.

Update 4 - 8th Aug, 07.08 Pm

CMP is 2865, trail sl to 2845 from 2835, enjoy profits.

Update 5 - 8th Aug, 10.21 Pm

Trail your profit lock from 2845 to 2865, cmp is 2882. This position is in 60 points profit now.

Update 6 - 8th Aug, 10.43 pm

Kindly trail profit lock to 2870 from 2865. cmp is 2885 now. Our profit is 65 points till now.

Update 6, Aug 9th, 04.55 Pm

Our sl ( profit lock ) hit, as a result trade is closed with 65 points profit. Jay Shriram.