Since I am in a short position, I really enjoyed today's tumble in WTI. I now see an Inside bar forming. The only question now is will it continue to drop or will it rebound?
inside bar not countable until next bar. so wait how the inside bar finish .
Trade4God
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@jkbamkeerthi, Exactly! That is what I am waiting on. I got burned yesterday not waiting and got out of sync. Today I am more patient. Money Flow and Stoch RSI are starting to move up so maybe it is rebounding. Maybe another head fake from the sharks.
jkbamkeerthi
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@Trade4God, should never rely on rsi and macd. even though its oversold it can still sell more and more. they meant for forex. as its the currency makes more economic imbalance. for crude enter and exit on levels . intra i dont trade. also book profits time to time and relax for next trade.
Trade4God
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@jkbamkeerthi, Works for me 80% of the time. I can live with that. Best of luck to you!
abobat82
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Hoping for a rebound since I am in a BUY position.
jkbamkeerthi
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@abobat82, down trend ends near 50.80 level before any trend reverse. if that breaks then 45 next. so play with level and dotn fight the trend