Trading is about making profits, not about venting frustration or trading for the sake of trading. Therefore, traders must understand what stage the price is at and take appropriate actions. Traders are neither always long nor always short, but always adapt to changes in the market. Traders must have their own defense system to control risks. Risk control and capital management are essential in your trading.
On Friday, oil prices recovered from a brief sell-off, rising more than $1 and the weekly chart also showed an increase, boosted by new optimism surrounding demand from the largest oil importing countries. Friday saw a large bullish rally, closing at a high level, while on Monday prices weakened during trading.
Regarding operations, the key point to watch above the crude oil price is near the 80.5 level, which can serve as a reference for selling. Looking below, the support near the 78.5 level is a good point to buy in with a small position, while the strong support at the 77 level can be a point to buy in with a large position.
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Crude oil is falling as expected and approaching the buying point for long positions.
Trade active
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Waiting for profit to be realized.
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Continue to wait for the yield to expand.
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The automatic take-profit point has been reached, and the perfect profit has been realized by exiting the position.
Trade closed: target reached
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The market is as expected, and I am preparing for a new round of buying.