Here are we are at last. Let's Long it now. Be prepared for previous drop till 47-48.
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Don't afraid of 49-50-51 or even 47-48. There is no profit or loss while trade is open. Good profit ahead due to my setup.
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if fail to keep 50$ will drop to red square probably. However target still alive, use a chance to add a position. Be strong, not jump in-out.
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Look like 47-48 ahead. :(
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Worse, that is 42-44 possible now. 50 was broken too fast, no resistance from a Bulls. However, not cancel this idea yet.
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37-38 is also possible in my opinion till the end of a month. Be prepared if Bears wins.
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Still no enough arguments to close a trade. Keep watching carefully.
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If you jump in and out, you loose for sure. I prefer to loose because of wrong direction but not because of bustle moves.
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Awaiting of 47.7 now. Very important level.
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Awaiting of 47.77 now. Very important level.
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Looks like 47.7-48.2 could be a turnaround level. Remember, there are no losses and profits before you close a trade. Don't count your chickens before they hatch.
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Next week trading recommendation for Oil. Keep LONGs if stays above of 47.7.
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Pay attention to this setup:
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looks good. leaving a square...
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The dangerous asset. A rigorous risk management is mandatory.
Looks it would be a good place for support to me too.
UnknownUnicorn163516
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@goodguy, Great trendline. We still could see a false breakthrough of it, so 47-48 is not exclude in mine opinion. However, who knows best enter point? I am not going to be greed in this trade. I see huge potential in it and there is fully enough for me.
goodguy
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@FreshOilTrader, I'm long a fair # of oil related stocks so I hope your right. Fits with what I've been thinking too. Best to ya.
UnknownUnicorn163516
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@goodguy, personally I have no doubts in tp and also timeframe. Just a question if we see 47.77 before. I ready for it and if it happens, will open additional volume of a position with full possible margins (leverage).