Long trade for OIL

NYMEX:CL1!   Light Crude Oil Futures
619 8 15
When OIL             moved above MA100 it was a signal that down trend was over and we should use trading systems based on flat market conditions. There was a good SELL signal when price bounced from UP Bollinger Band . Who opened the short positions, now they have profit. What about new potential signal? It could be BUY signal, when price touch MA50. If price bounce and MACD (H) and DMI confirm the reversal, we'll have good oppotunity to enter the new up trend in the start point. But now we do nothing - it's also a position when you work in the financial markets.
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I'm a little confused. Do you think the buy signal already happened or that we should be waiting for a lower price. If so, what is that price?
DLavrov tbuckle
Please look at this view
There are 2 entry levels. The 1st level, it was a good entry level but I wrote that it would be better to wait for more confirmations. Who entered already must be in profit. You did not open long position, so forget about the 1st level. Then price closed higher then MA20 and this is the 2nd entry level. I will buy here because I use day charts for trading. I don't care, if the price moves lower, because my Stop level will be below 35. If you also use day charts for trading, this is your entry level too. No need to wait. But for trader using 5 or 15 minutes charts the Stop Level could be higher then 35, and the price could fall and close their position. That's why for intraday traders the 2nd entry level - it's not good idea. They had to do this on the 1st level. I think now it must be clear )
So in the short term, after Friday's price action do you have any analysis of oil to move up or down?
DLavrov tbuckle
I wrote about 2 entry levels. The first level was good for intraday traders, but the second entry level is better for day traders. Because for such trades it's better to have more comfirmations. As for Friday's price action any way there is the beggining of up trend. My trading system allow open only long trades.
So ... Good set up! Now, correction, and further into the top :) What do you see a sequence of quotations from current to April 17 ?
DLavrov MikleKey
I don't use fundamental in my trading system. All news from the World are already included in prices.
Good set up with details on indicators. keep posting when uptrend starts.
Thank you for in depth analysis.
I'm very glad that you like it )
Thanks a lot! Sure I'll write, when there is new signal.
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