West Texas OilLong
Try to ride a 3R trade into 10R
Updated
OIL gives a upward signal when it fails break down. Two more positions are added once there is any new effective defensive zone. The idea behind my trades is not chasing win rate, i will just go in any trades showing possibility. Cut loss real quick and seek to enlarge the position when it went right.
Now I am thinking if i should get in more when it breaks 73 when reaching recent high? The main concern is whether 71.6~71.9 area(red line) is a effective defensive zone or not, the volume profile by the way shows not enough strength. Will see how or why it break out to decide later.
Now I am thinking if i should get in more when it breaks 73 when reaching recent high? The main concern is whether 71.6~71.9 area(red line) is a effective defensive zone or not, the volume profile by the way shows not enough strength. Will see how or why it break out to decide later.
Note
By adding 2 more position, the 1.9R flowing profit according to the first position is now more than 6.1R/1R.
Trade closed: target reached
more than 12R return without risk more than a R.
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