Crude Oil ETF OILU - Long Opportunity
As you can see in the chart, OILU 3x Crude Oil ETF is approaching the bottom trendline on the log chart. Usually we'll see a bounce here, if not, keep your stop loss close.
Trade closed: stop reached:
Stopped out. Low risk, VERY high reward. It didn't work this time, but you can see how this strategy worked for Tesla.
You only need a 1 out of 8 or so of these trades to work out to be in overall profit. Generally I see at least half of these trades respect the long term channel.
You only need a 1 out of 8 or so of these trades to work out to be in overall profit. Generally I see at least half of these trades respect the long term channel.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.