Oil is doubting. How today closes is important for sentiment.
Crude Oil is doubting. How today closes is important for sentiment and movements tomorrow. We are now bouncing between $63,33 and $62,09. Both of this levels are very important Fibonacci levels which tell me we are at an level where a new trend can start. Today I have tried both sides, short and long and short is compensated and I closed that one! The long is in loss, but still the chart is not convincing me that a short will appear very sure. That is why I have closed my short with a very small loss ( -$8 dollar ) and I'll now go for the long to climb again. The loss will make our profit when this one retraces and the loss will become less. Maybe even profit!
I still see Oil as in uptrend. Breaking $63 dollar means we go to the upper line of the horizontal movement. Now it looks like wiling to fall back to the middle of the horizontal movement, but not convincing. When today closes in red, I have a bad feeling about the long. But on the other hand, tomorrow we can go to $64 dollar area and we are happy. We have placed a stop loss which probably will be touched than. Unfortunately you can't winn them all on Wallstreet. Today we did some experimental trades on S&P500, Oil and Copper to see how the market moves and behaves and decide what the next trade will be. I see this losses as an investment in the profit.
After years of studying, learning and practicing I have developed a way of trading which can provide an profit every month by trading cfd's.
The strategy I learned from an visionair is 'Cycle trading' and I have developed this further and made it my own.
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, as; is the trend horizontal / uptrend or downtrend or volatile.
- 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! one of the indicators I use here to help me is the Fibonacci sequence.
- 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! Here I work with 'the total expected possible profit' and an percentage from this total opportunity where I mostly close the trade to be safe.
And that's not all at all. Also I check if the opportunity is interesting, by analyzing the charts and when I can make the conclusion that when I should open an certain trade and the possible profit would be 2/3rd of the amount you can possibly loss. So, in bad case lose 100 dollar and best case win 300 dollar it is worth the try! losing these kind of trades, I see as an investment on the possible loss. Stop loss needs to be tight here.
And that is Why I win more than I lose. Patience is everything, we’ll wait for the right moment!
Sometimes we are in huge loss, before we end the month in good profit. This is all part of the game. Without trading positions which we lose, we could never win more than we lose. Losing orders is investing in the knowledge to trade the right one to earn money.
Thank you for following and Succes with trading !
Richard from Rich.Exclusive.Trading
I still see Oil as in uptrend. Breaking $63 dollar means we go to the upper line of the horizontal movement. Now it looks like wiling to fall back to the middle of the horizontal movement, but not convincing. When today closes in red, I have a bad feeling about the long. But on the other hand, tomorrow we can go to $64 dollar area and we are happy. We have placed a stop loss which probably will be touched than. Unfortunately you can't winn them all on Wallstreet. Today we did some experimental trades on S&P500, Oil and Copper to see how the market moves and behaves and decide what the next trade will be. I see this losses as an investment in the profit.
After years of studying, learning and practicing I have developed a way of trading which can provide an profit every month by trading cfd's.
The strategy I learned from an visionair is 'Cycle trading' and I have developed this further and made it my own.
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, as; is the trend horizontal / uptrend or downtrend or volatile.
- 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! one of the indicators I use here to help me is the Fibonacci sequence.
- 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! Here I work with 'the total expected possible profit' and an percentage from this total opportunity where I mostly close the trade to be safe.
And that's not all at all. Also I check if the opportunity is interesting, by analyzing the charts and when I can make the conclusion that when I should open an certain trade and the possible profit would be 2/3rd of the amount you can possibly loss. So, in bad case lose 100 dollar and best case win 300 dollar it is worth the try! losing these kind of trades, I see as an investment on the possible loss. Stop loss needs to be tight here.
And that is Why I win more than I lose. Patience is everything, we’ll wait for the right moment!
Sometimes we are in huge loss, before we end the month in good profit. This is all part of the game. Without trading positions which we lose, we could never win more than we lose. Losing orders is investing in the knowledge to trade the right one to earn money.
Thank you for following and Succes with trading !
Richard from Rich.Exclusive.Trading
Possibly short now to 60.33 resistance.
Price can also retrace back to 61.50.
I’ll stay out of oil with cfd’s For now. Too high risk!