Long USOIL

Hello traders,

It seems the macro outlook I posted previously is starting to show traction . I will buy USOIL @ MKT when prices are available and I will buy additional lots with retracements, the SL will be placed @ 29.5

In addition to the fundamental analysis, there´s a potential wolfe wave pattern with good risk reward ratio

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6 Trading Rules :

1. Never add to a losing position .
2. Don´t be the first to buy low and sell high ., and don´t be the last one to exit
3. Think like a fundamentalist, trade like a technician .
4. Keep your analysis simple
5. Start small and increase exposure when trend is confirming your analysis
6. The hard trade is the right trade

Josep Pocalles

Comment:

This chart would support more fundamental data , petroleum supply have peaked ?

Trade active:

I´m adding another lot at current prices. If today we close below 29.5 I will close the 2 positions

Trade active:

Filter worked properly, today is an example why traders should wait for a daily close to determine players intentions. Bullish bias intact

Trade closed: stop reached:

Price downside pressure still persists after several bullish attempts . I need to see price above 30 to reconsider scenario