CL1!, dip buying

NYMEX:CL1!   Light Crude Oil Futures
2422 294 28
crude oil             have been thrashed since topping at 62.
saw a decent good long set up

1. 1 tick above the hammer is long triggered
2. SL is 1 tick below the hammer low
3. target around 46.50 breaking beyond is a bonus
4. left gap is fulfilled

worth the risk for me.. yes
I like the idea behind what you were doing but I'm not sure if you thought about the environment that the trade existed within. #1 look at the structure of the down-trend... it's pretty much dropping without any correction. #2: you are viewing a single candle without the context of the rest of the market. #3: oil is a market that moves more on supply/demand and is driven by decisions people outside the market makes (i.e. saudi,etc..) so trading it technically makes less sense.
jangseohee kosai19
thanks for your comment, @kosai19
my trade is solely technical
i will actually access overview picture from month, and zoom in until 4hr or 1hr for intraday trade
those idiots who play the crude oil war look at the charts
kosai19 jangseohee
Oh i see, so you have a specific setup that you were following. That makes more sense since that's something you would have researched ahead of time. From your comment it just seemed like you were buying a bullish candle on one time frame in a bad environment. :)

weekly look more down

daily could be a fake down
AMBRISH jangseohee
YinglinQuan jangseohee
+1 Reply
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