Our trade is doing nicely here, giving us more than 30% profits now, as my entry price is U$ 21.10. If you missed my call on UKOIL you can check it bellow the moment we saw an opportunity, and the reasons that drove us to buy. Also, follow me to keep in touch with our trades and analysis.
The moment when we long UKOIL:
Now it’s not the time to buy, neither to go short. If you want, you can sell partially your long positions, but personally I would wait for a more bearish sign. The last candle could scare a little, after all it is almost a Doji near the 21 ema. But no worries, in the end was just a correction, and the hourly chart can give us more details about it:
The price did a descending triangle pattern, and recently broke up and is resuming the trend. If the price went under the U$ 25.75 zone (black line), you could assume a further drop, but that didn’t happen. But for now, nothing else to do but wait.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Great to see some oil posts too. More commodity posts are very welcome! Your analysis style works very well on these trending commodities.
Nathan_Black
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@pptw, Thanks man! Oil will always be on my watchlist.
OLIKOYA
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Good call :)
Nathan_Black
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@amarchand303, Thanks my friend, and welcome to our community!
cataliz3er
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Hi Nathan! Loving the #noindicators approach. Keep up the clean work ;)
Nathan_Black
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@cataliz3er, Hello my friend, thank you very much, I'm glad your enjoying!
Stay safe and keep in touch.
Peace_Love_and_Forex
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Hi Nathan! You mention a call that you have in the notes above...how do I get access to these calls? I love your content too by the way.
Nathan_Black
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@DET2ATL, Hello DET2ATL! Thank you very much for the support, I'm glad to help! I post here all my trades, when I'm going to enter and when I drop off. For now, I don't have a more dynamic channel to communicate, but you just gave me something to think about. Maybe I'll do something, like a Telegram group in the future.
Again, thank you very much my friend, and welcome to our community!
Peace_Love_and_Forex
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@Nathan_Black, Thank you Nathan...yes, a Telegram group is a great idea. It works well for other groups that I work with. Thanks again! Stay safe!