Captain_Walker

UKOIL (1D) at a critical position

FX:UKOIL   CFDs on Crude Oil (Brent)
UKOIL (and USOIL ) are both at critical positions on the daily charts . The 200EMA shows that there is a rising trend, even if a slow one.

Price has reached an obvious point of decision. Prediction is not my business, so shall not get into which way price will go. The only issue is whether an acceptable risk position (i.e. stop-loss) can be taken and what logic that may be based on.

Reason is likely to vary from trader to trader.

The other big issue is which time frame a trader may decide to engage. Personally, I'm engaged on 4H time frames but informed by price action on higher time frames and sometimes down to a 15 min time frame.

Control your risk. It's the only thing you can really control in trading. Best wishes.
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