It looks like Oil found support on MA100 and reversed. MACD (H) and RSI confirms reversal but I don't want to open long trade now. Why? In spite of it looks like the perfect signal for opening long positions in the beginning of new up trend, the weekly chart gives information about strong down trend. Trading against the main direction and also the main directions on higher time frame - it's not a good idea, really. But what should we do?
I think the best variant is waiting for confirmation. If price closes higher then high of the previous day, it will be possible to open short term trades based on minutes charts after you will get signals for opening long positions. Who likes emotions in trading - open long trades based on this daily chart with stop level below 35 and profit level about 41. Good luck and be green!
I think the best variant is waiting for confirmation. If price closes higher then high of the previous day, it will be possible to open short term trades based on minutes charts after you will get signals for opening long positions. Who likes emotions in trading - open long trades based on this daily chart with stop level below 35 and profit level about 41. Good luck and be green!
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