Am i crazy to buy?

FX:USOIL   CFDs on Crude Oil (WTI)
157 6 10
Im looking at set up on low and high time frame, see charts....
Comment: higher time frame
Doji tend to look like a cross or plus sign and have small or nonexistent bodies. doji represent indecision on the side of both buyers and sellers. Everyone is equally matched, so the price goes nowhere; buyers and sellers are in a standoff. Some analysts interpret this as a sign of reversal. However, it may also be a time when buyers or sellers are gaining momentum for a continuation trend. Doji are commonly seen in periods of consolidation and can help analysts identify potential price breakouts. So do we have reversal or will price break 44.7 and excel lower
Comment: New low im out and i was crazy....
Comment: yep turns after taking me out.... Waiting on breakout trade from here,
I suggest keep your risk 2%. as most probably Oil is falling to around 40
tst saif12
Why 40? post a chart with your view so i can see....
Look at the bigger picture. The weekly curves. Stoch, %R, RSI and MACD and many others, all saturated and they need to go the resistance level. I was long on oil a month ago, I accepted a little loss and got out. I said it will go to 40, but it may go much lower. I may be wrong, but will not let the bride costing me fortune. Look at what all other people are predicting.
Good luck.
tst saif12
Thanks Saif12 I can appreciate what your saying according to indicators on the weekly....... You hear people dismiss indicators and say that indicators lag the market so you should read price and use fib levels etc. I haven't seen clear proof of lag in entering a trade so ill post this and see if or when the market turns A fib level or EW would have got you in earlier etc....
No Ichimoku suggest that fall and rise is equally difficult.
+1 Reply
tst robus
True :) i did buy so i hope rise, no stress though as only risk my 2%.
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