Oil: Long, looking for a deeper correction

FX:USOIL   CFDs on Crude Oil (WTI)
2779 18
closed this position at 75.20. Profit(pips)= - 95
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.

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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
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
It look like I'm the last bear left :D
Update: closed position at 75.20. Profit(pips)= - 95
+1 Reply
LastBattle Technician
I got stopped at break even :(
Was 56 pips in the positive side.
Technician LastBattle
Yeah, bullshit buddy, some rumors about not action in the opec meeting. I bet its all bullshit.
+2 Reply
Technician 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
Hi technician, which broker is best for WTI oil trade
I would expect this downtrend to continue. No enough confirmation for longs. Might be lucky tho...
thanks technician for this post
oil goes up, then CAD, RUS becomes stronger?
So, RUS, CAD, Mexico, Norway, Britain to be looked at ~ as stronger ~
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