Brent Crude Oil: A good opportunity for short-term climb

30 thg 4, 2020

Here is my view on the short-term buying opportunity for Brent Crude Oil.

Since the recent sell-off on the markets, many retail traders became biased toward the bearish scenario in the near future. Despite that, many instruments show quite significant gains and provide us with the nice trading opportunities. Remember: the price itself does not matter in trading. What we want to spot is a good Risk-Reward Ratio for upcoming trades and significant percentage gains since trade entries.

The chart says pretty much everything about my view on the next opportunities for trading Brent. In case if the price drops below $18, I consider it as a manipulation before the reversal.


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GENERAL RULES TO KEEP YOUR ACCOUNT SAFE:
1. Do not risk more than 2-3% per trade!
2. Try to wait for a trade with the Risk-Reward Ratio at least 3:1
3. Always use stop-loss!
4. Do not FOMO and do not add to a losing trade
5. Remember: Patience is the key!

THIS IS NOT A FINANCIAL ADVICE so, please do not follow it if you are in doubt. DYOR!

5 thg 5, 2020

Ghi chú

So far, the price moves as expected. If you have entered around $23, it is OK to move stop-loss to $20. As we still have not broken the structure, I suggest taking some profits around $32 - $33 because the pullback from that area is highly probable. If price gets to our zone of interest after a pullback, it will give a very nice buying opportunity with targets above $40 in 2-3 months. You can reinvest your gains back into the market.

Many traders struggle while in the trade because it is so damn hard to slowly wait even if price is going in your direction. I do suggest to leave this trade untouched for at least one months!

18 thg 5, 2020

Ghi chú

The price came to the first take-profit zone that I pointed out in the previous update. Partial profit can be taken at $32-$33 and I think we may get some pullback very soon.

If you entered at the time when I published this idea, you should have already gained at least 4:1 of your risk amount. So I would close maybe 50% at the current price and wait for a pullback to $25. That level will be a sweet spot to reinvest current gains with targets around $40 by the end of the summer.