eirik.kaasa

Countertrend long after heavy selling

Long
TVC:UKOIL   CFDs on Brent Crude Oil
We are still in downtrend, but still a lot of buy orders residing in the blue demand-area. Expect 50% FIB- rally from last high-low, followed by pullback to demand-area and then explosive upward move to upper supply.

Comments

Trading ranges carries no edge. Until this clears 50 and confirms a bullish trend you are predicting a bounce. It may happen and you make a small profit unless you risk large but there is no longevity in this approach. This handed out very good profit in the bear trend from $90 to $40 but after every trend there is a consolidation. Trade when in trend, Stand aside when not.
Reply
eirik.kaasa zaheeranwaritrader
@zaheeranwaritrader, Thanks again!
Reply
@eirik.kaasa, You are welcome.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out