Volatile Oil Leads to 20% Trade Opportunity [Sideways Movement]
USOIL is in a temporary sideways channel here. Overall there is a bearish momentum on oil, and I expect on the higher timeframes this momentum to stay as we've not seen the peak yet on the issues due to Corona. The question though is, how do we profit from that?
Here you see a sideways channel, where the price is moving between bounds of support and resistance. We can use our bearish momentum to find great entries, where the price is temporarily overindexed. We wait until until the price reaches somewhere near the resistance and enter the trade. I put the stop loss directly above the resistance to minimise risk, and the take profit is slightly above the support to make sure we're out of the trade when many others start to come in.
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- Trading Guru
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
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Here you see a sideways channel, where the price is moving between bounds of support and resistance. We can use our bearish momentum to find great entries, where the price is temporarily overindexed. We wait until until the price reaches somewhere near the resistance and enter the trade. I put the stop loss directly above the resistance to minimise risk, and the take profit is slightly above the support to make sure we're out of the trade when many others start to come in.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
Recent success stories
Thảo luận về những biến động và nói cùng nhau về thị trường giao dịch ở cộng đồng Telegram này nhé!
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
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