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 ;)
Komen
Technician
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Target was hit! Unfortunately after closing it, emotions continue to sneak .....
Luis_GuillermoRomero
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I kept it and I closed won 60 pips, thank you.
Technician
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My pleasure
Technician
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Update: closed trade at 100, 40 pips loss.
Technician
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Profit(pips)=-80.
forex91
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your SL is hit
Technician
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Yeah here stopped out, but my position is still running at my trading platform, low was at 99.71!!!
Technician
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I trade WTI Futures, not CFDs, actually the lowest price recorded at different brokers was 99.71 today. I use CFDs here as an illustration of the trade because tradingview doesn't provide intraday time-frames for futures yet.
forex91
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in FXCM trading platform 99.70 was the lowest price but you are right there is some brokers different price between their platforms , but as over are situation is bearish because oil hit and broke BB lower Band and ichimoko too , down weekly pivot point and Daily time frame just above the S1 level . may be after sunday price go down to 98.38 which is weekly S1 level.