thechartwhisperer
Long

long on oil, daily RSI divergence

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
290 4 9
a simple play on daily RSI divergence.
well divergence is clearly building up... but it take times for the divergence to make a reversal and so does a multi year low..... So I believe market can still head down further to 33.60 or even 26 level but you never know what if the market has already bottom :) Happy trading :)
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I guess I should be more clear a lot of "stuff" i'm thinking gets trapped in my head, in the very short term you make a clear point and I could see it happening, but I've never really minded if a trade goes against me for a bit most of my trades are swings, I am in the trades(electrician) I work long hours so i've always just left padding in my account to survive the swings and if it did go down, 20 has to be the clear bottom and it's only gonna be able to go up from there.
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KayJay thechartwhisperer
Your absolutely right my friend, to catch a market bottom is all about having a good account balance for example I'm trading crude long every time it reaches a key support or fib level and my stop is at zero... Meaning that my account can withstand these swings till the market hits zero which can never happen because price can never go in negative value..... So story cut short if you have good balance in your account keep buying from support level and selling on resistance level.... easy money :)
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soo there isn't a delete button after you publish from what I read and see. As you can see I botched this chart using updrend lines in a clear down trend situation
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