I came back and got vengeance with Oil. Let me share you a little dirty secret about oil. It's wild but structured. The best opportunity to trade oil is when these condition meet:
1. Oil is weaker or stornger than the market...the best is Market (S&P,DOW,etc) green and the market is red, like today.Vice versa
2. Looked for the previous low if market green or prev hi for market red.
3. CL tend to washout the stop loss below previous top/bottom then bounced following the market.
It's dirty I know, but we can profit from it, with very little risk, let's say 4 ticks risk for 40 ticks reward, I can live with that. My CL entry today is great. The exit, only half the top. It's a matter of time the Crude will take out the Monday's bottom @ 76.06. Be prepared...
End for today's trade. Man, I hate the 6B :( Anyone has the same problem? GBP/USD?
No comments:
Post a Comment