Technician
Long

Oil: Long, looking for a deeper correction

FX:USOIL   CFDs on Crude Oil (WTI)
2777 18 15
closed this position at 75.20. Profit(pips)= - 95
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I am long oil             from current levels, as price is retesting the near term broken resistance, which might turn to a support now, in addition to the broken falling trend line . Settling back below 75.80 may weaken this setup.

Best of luck. Join me at https://twitter.com/thefxchannel
Also at my Facebook             page http://www.thefxchannel.com
My best regards,
Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
https://thefxchannel.com
It look like I'm the last bear left :D
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Update: closed position at 75.20. Profit(pips)= - 95
+1 Reply
LastBattle PRO Technician
I got stopped at break even :(
Was 56 pips in the positive side.
Reply
Technician PRO LastBattle
Yeah, bullshit buddy, some rumors about not action in the opec meeting. I bet its all bullshit.
+2 Reply
Technician PRO Technician
Lost some good money in this one
+2 Reply
dp Technician
Why is it BS? Isn't simple argument that Vlad wont be left alone is good enough? :D
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Hi technician, which broker is best for WTI oil trade
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I would expect this downtrend to continue. No enough confirmation for longs. Might be lucky tho...
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thanks technician for this post
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oil goes up, then CAD, RUS becomes stronger? http://www.bloomberg.com/visual-data/best-and-worst//biggest-oil-producers-countries
So, RUS, CAD, Mexico, Norway, Britain to be looked at ~ as stronger ~
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