I entered my 3rd trade on USOIL this morning, on a pullback in a possible overall downtrend
My reason for entry was a new "stair" in the uptrend and presented a beautiful entry.
Entry: 46.86
My take profit is set to high of the previous range and under 61.80% retracement
TP 48.00
My Stop loss was 50 pips. That gives it room to move around without this trade being wrong. It's also a good rule to keep your stop loss as closely as possible but far enough for it move around before going in the desired direction. I set my stop losses around 50 pips and previous S/R levels
SL 46.36
Overall the price could be in a descending channel but there is nothing back it up on the lows. The buyers keep pushing the price up. The momentum is starting to slow down a bit, we are starting to see stronger holdups before pushing higher and even small pullbacks. The sellers are starting to show some presence.
My reason for entry was a new "stair" in the uptrend and presented a beautiful entry.
Entry: 46.86
My take profit is set to high of the previous range and under 61.80% retracement
TP 48.00
My Stop loss was 50 pips. That gives it room to move around without this trade being wrong. It's also a good rule to keep your stop loss as closely as possible but far enough for it move around before going in the desired direction. I set my stop losses around 50 pips and previous S/R levels
SL 46.36
Overall the price could be in a descending channel but there is nothing back it up on the lows. The buyers keep pushing the price up. The momentum is starting to slow down a bit, we are starting to see stronger holdups before pushing higher and even small pullbacks. The sellers are starting to show some presence.
Trade chiuso: stop raggiunto
Hit my break even. Let's go on to the next trade
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.