some thoughts on oil and one important trading logic to share:
Guys, Today I receive a msg from one of the follower "sir, any forecast on oil now?"
then i draw this chart to him: 1. Oil is in a tri-angle right now, lower highs and equal lows. 2. 48.00 is strong resistance structure 3. 46.50 is strong support stucture.
problem: price is right in the middle! it can go up or can go down and your risk is not small at all.
Conclusion: Do not Trade Oil at this moment, which means: Have some rest! here is the sharing part: Traders, how many times you feel that you have to do something? how many times you think you got itchy finger? Please take note: If there is no much trading opportunity, DO NOT FORCE TO TRADE.
wait paitiently for the price to react at thoese important structure and you will have a clearer trading plan by then.
Good night! Wish you a happy trading life! Plan your trade, trade your plan! Always here to share, yours sincerely: Jack ( tntsunrise)
Kommentar
⋅
Kommentar
⋅
Guys, did u catch this short trade?
Kommentar
⋅
Oil continue to drop For thoese who has viewd my charts and get the short trade ,you can consider to take profit now
Thank you for this post, and all of your others. I learn something from them each time. This reminds me once again to be patient, don't force any trades, and keep an open mind. Good luck Jack, I will be looking forward to more of your work!
tntsunrise
⋅
welcome!
MindTrader
⋅
docholliday
⋅
Looking for a sell setup on this one as it looks attractive to make a flat correction of the up impulse - still in the correction.
carlosdavilamal
⋅
we should hold our sell positions?
tntsunrise
⋅
u can take some profit.
CryptoTraderOne
⋅
Mr.Jack, price hit the structure and fibo retracemen 0,618. Do you agree to take a long from here?
tntsunrise
⋅
nope
rocky05.ra
⋅
Midterm target from daily chart, there is rising wedge pattern, target at $36