When Oil breaks $62.85 possible long to $64. Sentiment importan
When Crude Oil breaks $62.85, it possibly goes long to $64 area. The sentiment on the market is very important before opening this trade!
The exact right moment to buy and where you put your stop loss and take profit are very important to be successfull in making money with trading Oil.
Oil is still in bullish position. As long as we are not breaking 59 dollar I still believe we are in uptrend and the price can rise to 75 dollar. We have reached a critic point last week, but the week ended positive. The sentiment today (Monday 5th of May 2018) made it a hard day to trade Oil.
I prefer not to trade on volatile markets. You will lose your money when you do! Trade on technical-chart analysis! not on news and volatility!
One of my other strategies is that trades are the most interesting and ‘safe’ to open when: you can possibly lose 1/3rd of the possible profit. So; when you set the indicators after analysing resistances, and you can lose 100 but win 300, it is worth the try! If you lose, the damage is small, but if you were right, the profit is good.
How do I decide to open a position or not? First I analyse:
- sentiment on the market > are people in buy mode or short mode
- I have some own created indicators, some I show in my charts.
- and this own indicators tell me when probably a new long position starts or a new short > these are the positions where I place my orders!
- and again other own created indicators tell me how far long or short it probably goes. The take profit and stop loss positions are Other positions than the resistances in the market!
And that is Why I win more than I lose. Patience is everything, we’ll wait for the right moment!
Thank you for following and Succes with trading !
Richard from Rich.Exclusive.Trading
The exact right moment to buy and where you put your stop loss and take profit are very important to be successfull in making money with trading Oil.
Oil is still in bullish position. As long as we are not breaking 59 dollar I still believe we are in uptrend and the price can rise to 75 dollar. We have reached a critic point last week, but the week ended positive. The sentiment today (Monday 5th of May 2018) made it a hard day to trade Oil.
I prefer not to trade on volatile markets. You will lose your money when you do! Trade on technical-chart analysis! not on news and volatility!
One of my other strategies is that trades are the most interesting and ‘safe’ to open when: you can possibly lose 1/3rd of the possible profit. So; when you set the indicators after analysing resistances, and you can lose 100 but win 300, it is worth the try! If you lose, the damage is small, but if you were right, the profit is good.
How do I decide to open a position or not? First I analyse:
- sentiment on the market > are people in buy mode or short mode
- I have some own created indicators, some I show in my charts.
- and this own indicators tell me when probably a new long position starts or a new short > these are the positions where I place my orders!
- and again other own created indicators tell me how far long or short it probably goes. The take profit and stop loss positions are Other positions than the resistances in the market!
And that is Why I win more than I lose. Patience is everything, we’ll wait for the right moment!
Thank you for following and Succes with trading !
Richard from Rich.Exclusive.Trading