microtrends
Long

Oil long if reversal at low holds - possible long headsup

FX:USOIL   Crude Oil (WTI)
Oil
34 2 0
oil
After our short signal on the chart we are not showing signs of slowing and congestion...
and some stats and timing that say at very least scale 1 out... if you are short...

Oil             long Fib Grid -f76% to -88% range 125%+
reversal at low if we break above -f76% on the fib grid 100...
this is a sticking the neck out trade - pre-empting a green candle above the -f76%


If not 99.58 to 90.0 is next support
lets see what happens.. time is also a factor here. The important thing is to be aware of certain patterns that can be profitable - which might just end up in sideways chop here....

ie the bounce of break of a level... note how price does hit theses and bounce or break -quite a lot... and whats more the levels are projected at the start of the session!


Look at why this failed - if you did in deed take the trade - and pre-empt it... instead of staying short or sitting tight... on the sidelines/

#1 Bigger picture
Set the scene for the stage with the bigger picture.. visualize the price cycle, the support and resistance zones ,the longer term and intermediate trend - use simple lines and geometrics to see that...
Oil End of 2014 Forecast


#2 Trade entry technique, targets and exits

Now intraday try to leverage this for your trading decisions...
Look at why this is easier and worked:
MT Trading System why we dont try to catch the falling kinfe



Reply
so that was a fail if you jumped in long - without price action confirmation as we continue downwards with a bear flag kind of pattern to -f100% 99.50 area
Reply
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