tntsunrise

some thoughts on oil and one important trading logic to share:

TVC:USOIL   CFDs on WTI Crude Oil
some thoughts on oil            
and one important trading logic to share:

Guys, Today I receive a msg             from one of the follower
"sir, any forecast on oil             now?"

then i draw this chart to him:
1. Oil             is in a tri-angle right now, lower highs and equal lows.
2. 48.00 is strong resistance structure
3. 46.50 is strong support stucture.

problem: price is right in the middle!
it can go up or can go down and your risk is not small at all.

Conclusion:
Do not Trade Oil             at this moment, which means:
Have some rest!
here is the sharing part:
Traders, how many times you feel that you have to do
something?
how many times you think you got itchy finger?
Please take note:
If there is no much trading opportunity,
DO NOT FORCE TO TRADE.

wait paitiently for the price to react at thoese
important structure and you will have a clearer
trading plan by then.

Good night! Wish you a happy trading life!
Plan your trade, trade your plan!
Always here to share,
yours sincerely:
Jack ( tntsunrise)
Comment:
Comment:

Guys, did u catch this short trade?
Comment: Oil continue to drop
For thoese who has viewd my charts
and get the short trade ,you can consider to take profit now
Looking for a sell setup on this one as it looks attractive to make a flat correction of the up impulse - still in the correction.
Reply
we should hold our sell positions?
Reply
tntsunrise carlosdavilamal
u can take some profit.
Reply


Mr.Jack, price hit the structure and fibo retracemen 0,618. Do you agree to take a long from here?
Reply
tntsunrise CryptoTraderOne
nope
Reply
Midterm target from daily chart, there is rising wedge pattern, target at $36
Reply
I made a "late enter" on short.
Jack don't you think that if Nonfarm Payrolls (Aug) will be good, $ will go up and OIL will be brought down further ?
Otherwise I'm ready to close my short if Nonfarm Payrolls is bad
What do you think ?
Thanks as always
Reply
tntsunrise val_trader
NFP normally dun impact oil
Reply
Awesome post. Thanks for it
Reply
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