sooner or later,my first entry a little bit early, and.i added at47.4
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It is retesting the previous bottom, price still be holded in the up going channel bottom, or, if it fell to $46, still in the wedge, I will considered of adding longs in that case $46
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i longed oil again from47.5
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oil looks fine:)
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It's a long long time trade, watch resistance $50.7, $52.5,$55. Once broke $52.5, $55 won't be too difficult to break.
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now as i mentioned in last update,50.7has some resistance,but it still possible to break out, let's watch NY session.next is $51.5
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it's still bullish, going to test 51.5now, heading our first tp 53
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Let's take a look at our baby Oil,little bull is moving towards $52.5
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Already broke $52.5, approaching our first TP:$53. Come on~~ go, go, go!
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Weekly chart looks more room.
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the hi for today is $52.9, already more than 400pips, I usually took profits when above 400pips for oil. $53 has some resistance, and suggest those positions cost more than $48.5 take profits first. while i will still hold the postions costing at $47-47.5.
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it's hit TP1 500pips in pocket already. wait for a retracement to add more buys. Rome wasn't built in a day.patience is the key,1000+pips won't be a dream. In general view, the strategy for oil more than one time gave 1000+pips.
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still holding longs from$47.5, if it can't give a chance to add more longs, i will holding it till the final tg. imo, not prefer to scalp for 100-200pips in trending.
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Now it is approaching my tg:$51.17, but need to wait for the available signals.