About meFull time trader since 2008. Seeking out short and medium time frame trades, long or short for positions to be held for a few hours up to a week. Stocks, currencies, indices and commodities traded. Background in government bond and Eurodollar markets.
This asset has been ranging nicely offering great long and shorts signals. I am accumulating this coin so I have been selling part of my REN position on the short signals rather than going outright short and increasing the amount of REN coins I hold by buying them back on the buy signals. I have been using the signals linked to automated bots to manage the position.
We are being supported by the trend-line, stop below the lower support (you can place your stop tighter if you wish), target the top of the ascending triangle and also trail the take profit for a potential breakout to 11.5k
This is a very nice risk/reward trade as the price could potentially hit the target and then also break out the ascending triangle for even greater profits.
The stop just below the 200 day MA and the loss of the trend-line is a clear stop and a tight stop
This large multi-week symmetrical triangle on USOIL is of interest to me as it is ready to break out at any point now and could signal the start of a large trending move to the upside or downside dependent on the direction it breaks. Due to fundamental reasons I believe the break will be to the downside to take out the recent lows near $40 but I will be trading...