TRDVMA

Brent Oil Update

FX:UKOIL   Crude Oil (Brent)
212 3 2
May be a window of LONG opportunity for the Oil             . (REFER TO DESCRIPTION ON THE CHART), with R&R around 2. Thrill seakers may jump in (Not me) with a target at 34.32. Good trades

Note: On the chart, after publication, the trendline (blue) appears misplaced for some reason. Should go right below the current price.
Trade closed: target reached: Target Reached.
Comment: Price got stuck at indicated level. It will be very difficult to go up from this point. Price has to go back down may be back to 32 levels to release pressure and gain strength,
I am novice trader. Why wouldn't you jump in? Risk reward ratio is good.
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TRDVMA xiiimik
You should not only look at the R&R, but also the window of profit (amount), time frame, volatility of the price, location where you make an entry. All those summed up, it wasn't for me to jump in. Don't forget Oil is a highly jumpy (volatile) commodity and I prefer to enter it when I have a wider margin of profit. This is my style of trading (and every trader should have a certain trading style). I am not a scalper and do not spend all day in front of the computer. Short term traders (who trade many clicks a day in front of their screens) shouldn't have missed this entry though
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