USOIL - Short position on crude wins 250 pips.

FX:USOIL   CFDs on Crude Oil (WTI)
Also a "runner" seeks 470 pips with no risk. (For the second target).

Please, check my trade plan:

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Perhaps you can clear something up for me.
I've been looking over the gorgeous charts that you've
published. (however, i do not see this particular daily)
On Oct. 16th you published this chart below of daily Brent
with basically the same trend lines, BUT recommending a long.
So now you're saying you had a profitable trade going short ?
Since Brent and WTI move in the same direction ----- I'm confused !
Thanks for your thoughts and wishing you a pocket full of pips !!!!
+1 Reply
InsideMarket dojitrader
Thanks for the compliment, mate!
These are very good questions. I will try to be as clear as possible:

- Any financial security has correlations (equal correlation or inverted), which DOES NOT MEAN that we can establish a cause-effect situation because of the variety of drivers that affects price individually.

- As a technical trader we try to measure those idiosyncrasies between price-action and time-factor as a ruler to understand market psychology.

- Considering all the above, this business is all about risk/reward. That's when a good trade system come along to take advantage of the ever-changing market , allowing to be profitable even when the previous predictions contemplated no trade at that time.
dojitrader InsideMarket
Well . . . . .
I still don't see how or why you'd clearly recommend going long on Friday and then publish on the following Thursday
showing how you actually went short on Monday and made a profit ---- From almost the exact same chart/pattern:
Which by the way i can't find published on your TV list.
unless ----
your mentor is Dennis Gartman.
I'm sorry, but your answer makes no sense and does not even begin to answer my simple questions.
InsideMarket dojitrader
It is all about the time frame. There is nothing wrong in going short when the perspective is to go long. The very terms "short position" and "long position" denote that possibility.

Also, I did not recommend going long with the UKOIL chart. It is needed further notice to perform any trade with charts like this.

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