RationalTrader

Daily positive candle

FX:USOIL   Crude Oil (WTI)
108 0 5
If daily upward move continues today and next week into old longer trendline , expect an explosive move. Bullish wedges has bad statistics and often have retracements, so couple of last days exit might just be a minor correction
Comment: I'm long on us oil, been for several months. Wedges is really no reason to close anything. I will just add more longs on the dips. My futures does not have any swaps anyway, and the rollovers will fall in my favor. Follow good money management rules with no more than 2-5% of your account. Sooner or later the account is going to grow, as well as your positions. I guess I am a position trade really, although I scalp sometimes on forex pairs with news releases just for fun and variation since I like following the news and world macro economics events. Longer positions on forex just don't make so much sense since they got swaps, seldom in favor of the trend.
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