TVC:USOIL   CFDs on WTI Crude Oil
3.6.20 This is about scalping gold. READ THIS PARAGRAPH AFTER THE VIDEO. The video pretty much represents what I intended to say. Near the end of the video I started talking about the grid on the oil chart for comparison. I ran out of time on the video. I was timed out as I was explaining the two large swings on the left side of the chart. If there had been more time, I would have shown you the distinction between the price action on the left side of the chart versus the right side of the chart. The market dynamics were different on the right side of the market which wasn't oversold or overbought and you can tell by looking at the bars and the swings and the difference from the bars of the swings to the left side of the chart. My belief, but it is not a fact, is that I would trade markets on the right side of the chart more as pattern type of trading...AND THIS MEANS TO ME THAT I SHOULD RESPECT THE UPPER AND LOWER LINES OF THE BOXES AND NOT BE SO SURE IN MY MIND THAT THE IS GOING TO MOVE TO THE NEXT LEVEL. When the oil chart produced a double bottom and a potential long trade for me, I thought it was going to break higher than that range box. It would've gone close to $2000 higher if I'd entered that trade, but I was anticipating three to $4000 move because I was minimizing the importance of the upper level of that range box... and this would've been a mistake. I may have been able to exit that trade with no loss, but I missed a couple thousand dollars opportunity and didn't take it. These are the things you need to think about, and in this case the market was trading patterns, and it wasn't oversold or overbought and in that case it may be better to treated almost as you would as a scalper the way I do defined it on the gold chart. If I were to characterize this, oversold and overbought markets are much easier to trade for me and my style. It is important to recognize what those markets look like. When you find that kind of market learn how to trade it and NOT as a scalper.
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