Crude oil buy setup - Triveni sangamam

TVC:USOIL   CFDs on WTI Crude Oil
Buy USOIL at cmp (71.30+)

T1: 73.00
T2: 74.50
T3: 76.80

SL: 69.90
Trade active:
Comment: Made a high of 72.68 and missed T1: 73 by a close margin
Trade active: Took support at the trendline again
Trade closed manually: Closing trade at CMP (70.80) at loss after two failed attempts to meet T1: 73 by going very close by and now the trendline is broken.


chart levels are not identified here. I have shorted for 69,68
k314 siddmuk2005
@siddmuk2005, Which levels are you talking about?
+1 Reply
k314 siddmuk2005
@siddmuk2005, All the best. Cheers :)
siddmuk2005 siddmuk2005
@siddmuk2005, You missed daily ADX and RSI which sufficient to tell chart story where it will go
k314 siddmuk2005
@siddmuk2005, I do not use ADX in my trading system. Instead I use Bollinger bands and moving averages to measure volatility and trend strength.
I use MFI which is volume weighted RSI. While I welcome counter opinions, I make sure only arguments backed with logical and analytical reasoning are considered.
I did my home work before publishing the chart based on my trading system and have conviction in my analysis. Having said that I wont be disappointed to be wrong and book loss :)

PS: I disregard your way of drawing trendline. Its neither body to body nor wick to wick. Its simply drawn to fit your preconceived opinion :) Pls dont take it personally. If it works well good for you.
@k314, All the best for trade :) Enjoy . End f day we should make some money for our future. Chart is all about data pattern that forms by big investor and Oil sellers
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