I like oil,i have made some money off my trades and lost some but net i am in the green with black gold. Here is another long term trade. The analysis is simple and hinged on the monthly with the channel that has just formed and we seem to be at the bottom part,so i was searching for an entry. The entry was made on the daily after the close of yesterday's candle. The yellow zone was an area of resistance which was pierced a few days ago and if my analysis is right should act as the spring board for the up move. I made 3 equal positions with different targets and SL. The eventual target is $60 but by then we should have banked in a few bucks already.
Position 1 - Entry @ $51.36
SL @ $50.37
TP @ $53.97
Position 2 -Entry @ $51.36
SL @ $49.94
TP @ $ 55.97
Position 3 Entry @ $51.36
SL @ $ 48.94
TP @ $ 59.97
NB: Manage that risk!!. . . . .position sizing determines if you are still going to be in the game tomorrow!
Position 1 - Entry @ $51.36
SL @ $50.37
TP @ $53.97
Position 2 -Entry @ $51.36
SL @ $49.94
TP @ $ 55.97
Position 3 Entry @ $51.36
SL @ $ 48.94
TP @ $ 59.97
NB: Manage that risk!!. . . . .position sizing determines if you are still going to be in the game tomorrow!