USOIL: Update, we picked the bottom (perhaps)
Updated
As I outlined in my futures chart, we have entered longs once again in oil near yesterday's close.
If we keep trucking, we will confirm my analysis, and probably resume the longer term 'Time at mode' uptrend signal spotted in this chart.
It not long, you can jump in, although not optimal, risk is still small. Yo be extra safe, you could wait for today's close, and then go long on a new daily high, risking a new daily low under the then lowest daily low in this down swing.
Good luck,
Ivan Labrie.
If we keep trucking, we will confirm my analysis, and probably resume the longer term 'Time at mode' uptrend signal spotted in this chart.
It not long, you can jump in, although not optimal, risk is still small. Yo be extra safe, you could wait for today's close, and then go long on a new daily high, risking a new daily low under the then lowest daily low in this down swing.
Good luck,
Ivan Labrie.
Trade closed manually
I don't like the short term chart now, I'll get out and wait for a couple days.Note
I got out around the entry price, clearly the right thing to do. I'm watching I'll update once we can enter longs again.Note
The key level seems to be holding seeing that we have no high under it.}We might be able to go long on a new daily high.
Trade active
We bought today above the daily open, stop at today's low.
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