TRADING OIL: BUY THE DIP
Will long:
half of my usual position size now @ 58.80
half of my usual position size @ 56.25
usual position size @ RSI 1HR <28, 4HR <30, 1D <30
two times my usual position size @ 50.00
The current world news has been very uncertain with lots of tension which supports the likelihood of oil price increasing in the long term.
however it is important to know how to apply the above concept. Risk management is very important as to safeguard your asset. Always trade safe!
if you are a lower risk investor, here are a couple of solution to add on to this trade idea:
Stop loss:
Adjust it everyday based on DAILY ATR.
When trade is profitable, adjust stop loss to be above or same level as position level
cheers
Will long:
half of my usual position size now @ 58.80
half of my usual position size @ 56.25
usual position size @ RSI 1HR <28, 4HR <30, 1D <30
two times my usual position size @ 50.00
The current world news has been very uncertain with lots of tension which supports the likelihood of oil price increasing in the long term.
however it is important to know how to apply the above concept. Risk management is very important as to safeguard your asset. Always trade safe!
if you are a lower risk investor, here are a couple of solution to add on to this trade idea:
Stop loss:
Adjust it everyday based on DAILY ATR.
When trade is profitable, adjust stop loss to be above or same level as position level
cheers
Note
stop loss @ 60.5 [200pips]Trade closed: target reached
Price has touched 200MA (63.785)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.