CL> signals for a long position.
I don’t like that you can’t see the chart that you are publishing. So it can be hard to write what I can’t look at. Or am I missing something? I would not doubt this. Anyway I will post my thoughts in an update below.
Trade active:
Additional comments
Within my accumulation box I place a fib retracement levels. This helps me see important levels in the A/D box and therefor direction. I never heard of anyone doing this so maybe it is a dumb idea. But it does help me it seems. But I’m not a math person or statistic person. I’m a preschool level of trading strategy: this is called a triangle, this is a rectangle! Point to your head. Good! Now point to your shoulders. Excelllent! :)
I will say though that as simple as this seems, trading is always hard. Never take it for granted. There are never easy wins. Though some traders may claim absolute certainty that the market will go this way or that way, there is no certainty EVER in markets.
I actually did a count once of 100 traders here on trading view ho were 100% certain, or guaranteed a level by such and such date, etc. I kept meticulous notes on these when I saw the comments. These were longer term trades such as a week or months from now. The number of rimes that their prediction came true? 12 times out of 100. And I allowed leeway. I know I wouldn’t be any better, but I wouldn’t make such certain statements either. Short term, intraday, or a few days is more predictable in my opinion. But still never certain.
Even though my trading strategy uses preschool shapes and body parts, I have been quite successful over the past 2 years. I started trading about 3 years ago. The first year I lost 10%. But since 2 years ago I have been very happy with my results.
Btw, I don’t think preschoolers should be learning about double bottoms and double tops. Lol. Maybe as teens :)
Who’s, that was a Rambler! More than I intended. Sorry folks.
Cheers,
Ms. Bunny
Within my accumulation box I place a fib retracement levels. This helps me see important levels in the A/D box and therefor direction. I never heard of anyone doing this so maybe it is a dumb idea. But it does help me it seems. But I’m not a math person or statistic person. I’m a preschool level of trading strategy: this is called a triangle, this is a rectangle! Point to your head. Good! Now point to your shoulders. Excelllent! :)
I will say though that as simple as this seems, trading is always hard. Never take it for granted. There are never easy wins. Though some traders may claim absolute certainty that the market will go this way or that way, there is no certainty EVER in markets.
I actually did a count once of 100 traders here on trading view ho were 100% certain, or guaranteed a level by such and such date, etc. I kept meticulous notes on these when I saw the comments. These were longer term trades such as a week or months from now. The number of rimes that their prediction came true? 12 times out of 100. And I allowed leeway. I know I wouldn’t be any better, but I wouldn’t make such certain statements either. Short term, intraday, or a few days is more predictable in my opinion. But still never certain.
Even though my trading strategy uses preschool shapes and body parts, I have been quite successful over the past 2 years. I started trading about 3 years ago. The first year I lost 10%. But since 2 years ago I have been very happy with my results.
Btw, I don’t think preschoolers should be learning about double bottoms and double tops. Lol. Maybe as teens :)
Who’s, that was a Rambler! More than I intended. Sorry folks.
Cheers,
Ms. Bunny
Comment:
I forgot to post chart with my fib levels! Here you go.
Comment:
Oops posted in comments instead of here.
This might (emphasis on might) be a good place to add to your lo your long or re-open a long if you were stop out (ME - raises hand sheepishly)
Why?
1. Previous 4h candle held neckline.
2. Look what happened when price nosedived 3 previous times (denoted by colored rectangles and up arrows)
Tread carefully. Volatility can kill your account. Fortunately I tightened my stop prior to big dump. I lost my quota for one day, so this is when I usually say NO MORE TRADES TODAY (and then say okay just one more.) but is might go long here depending.
This might (emphasis on might) be a good place to add to your lo your long or re-open a long if you were stop out (ME - raises hand sheepishly)
Why?
1. Previous 4h candle held neckline.
2. Look what happened when price nosedived 3 previous times (denoted by colored rectangles and up arrows)
Tread carefully. Volatility can kill your account. Fortunately I tightened my stop prior to big dump. I lost my quota for one day, so this is when I usually say NO MORE TRADES TODAY (and then say okay just one more.) but is might go long here depending.
Comment:
Also price has held this line since last years big drop when oil was negatve
- I see an ascending triangle which usually will break out on flat side
- I see a mini head and shoulders where the neck line has become support.
So I am planning on a long trade. I have entered at 60.95. TP is supply zone. CL is being volatile today so be careful! Good risk management always.
Happy trading :)