Oil has broken out the down channel, it's possibly to go north But it'd be better watch for the retracement today. If drop under 46.4, may fall to 45.4-45.5 If break out 47.6, will continue to go north
You can try Long @ fib 0.618 ... 0.764 retrace. SL @ the bottom. Good luck :)
MarcusTrader7
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Elliott wave sub 5 starts at 46.40 with target 50.50
DerekUweri71
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Hi Faylee, it doesn't bother you that Yellen is speaking?
faylee
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Even Brexit couldn't change my plan. Trade your plan.
DerekUweri71
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Hahaha, II like that.
DerekUweri71
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My Trade Plan is to stay out of news events but Plans can be revised. I forgo a lot of good set-ups prior to news events and end up missing out on good trades. However, there are occasions where staying out has prevented losses. Its a bit of a dilemma.
faylee
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Yes, in general speaking it's, but we never could stay out from the risk of loss once we have position in hand.
So, from this point of view, there's no much difference.
What makes us into a greater risk is that we do not have enough preparation and planning ahead.
DerekUweri71
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I suppose so.
Maybe I will adjust my trade plan, use a smaller size and see how it goes.