More and more my posts are about controlled losses. I'm doing this because trading is mostly about controlling losses. Seriously, it is about taking affordable controlled losses at key areas in an instrument.
This 3D time frame may not be the one to trade in. The value in higher time frames is about advanced vigilance for potential reversals of trends.
As far as an eye can see, the oil has been reacting to 20 MA levels. Most of the reactions were double bottoms, some were a little more distant. But it is the level that holds strong and vigilant. I am betting that it will be reacted to again with SL below latest significant low.
This video is not about an instant opportunity for jumping in the markets. I'm sharing how I stalk the markets.
New or novice traders - all too eager to make a fast buck - tend to miss the big issues i.e. that it is about patience, vigilance and planning ahead. The methodology shown is relevant to trend following.
How do we find trends? Well, we need to be...