I went long on Oil yesterday with a small position size. Looking to increase position if I can see CCI cross over zero on the daily and RSI cross over 55 on the daily. On the 4 Hour, we're close to seeing a cross above the RSI on 55. My next target zone is between 62 to 63. We've made a higher low and now waiting for a higher high close on the daily will signal trend continuation to the upside. We also see both RSI and CCI make a double bottom.
Note: I have applied this strategy in the past by using only CCI and RSI as an indicator to buy and sell. To be short, I wait for RSI to cross over 55 and CCI to crossover 100. They dont have to cross above at the same time relatively close in time. To sell, I'd wait for RSI to cross below 55 and CCI to cross under 0. For an aggressive entry, you can also neter when RSI is crossing over 45 .
Comments
anthony.pham00
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alexeyhoroshunvk
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Great idea! Perfect! I entered at 58,30 because I need confirm signal, then I so your idea).Yesterday I closed my order at 60,54. I think you done better then I am. Wish good luck and wait for other ideas.
anthony.pham00
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I hit 2 of my targets and trailed my stop until it got hit around the 61 mark. It topped out at 61.57. There was also a Bat pattern completion around that level so I went short. Expecting a small pull back before the next push...goodluck...ill do my best to post updates.
cheers