Update: closed trade at 100, 40 pip loss.
Profit(pips)=-80.
I Bought WTI Crude Oil on a break above the key confluence resistance levels near 100.40, price has broken that resistance then retraced to retest it , provided me with a good entry point in terms or risk-reward. Am long at 100.40, target one at 101.30, target two at 102.10, with a stop at 99.70
Bullish Argument: Breakout above the resistance of the falling channel + Completion of a double bottom formation + Bullish divergence on RSI momentum.
Note: I initiate trades on oil through futures not CFDs, I use CFDs here as an illustration of the trade because tradingview doesn't provide intraday time-frames for futures yet.( That means, pricing me be slightly different)
Good Luck, Support by Joining me @
twitter.com/thefxchannel
---------------------------------------------------------
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)
Profit(pips)=-80.
I Bought WTI Crude Oil on a break above the key confluence resistance levels near 100.40, price has broken that resistance then retraced to retest it , provided me with a good entry point in terms or risk-reward. Am long at 100.40, target one at 101.30, target two at 102.10, with a stop at 99.70
Bullish Argument: Breakout above the resistance of the falling channel + Completion of a double bottom formation + Bullish divergence on RSI momentum.
Note: I initiate trades on oil through futures not CFDs, I use CFDs here as an illustration of the trade because tradingview doesn't provide intraday time-frames for futures yet.( That means, pricing me be slightly different)
Good Luck, Support by Joining me @
twitter.com/thefxchannel
---------------------------------------------------------
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)
