Nice chart and phantom bars showing the direction. I like this trade idea and agree. I see oil dropping as well. I am waiting to short some oil off the daily chart if that down trend line holds. I will short it in the CFD account.
@flashsolver what moving averages are on your chart?
Here is my oil chart analysis, what I see is oil making lower highs on the daily and respecting the downtrend. I am waiting to short for sure for a move back lower.
@JoshWinter it's 20 MA and 100 EMA moving average
O nice, I like both those averages. The popular moving averages are 20, 50, 100, 200 with most technical traders. Some use MA and some use EMA.
Why do you use the 100 EMA instead of 100 MA? @flashsolver
100 EMA i use for scalps, like touch and bounce type of trades it works best for my trading plans, i just keep playing with the moving average in general till i get the best fit for my trades.
Nice, I like it. Trade what suits your personality.
It looks like you're new here. If you want to get involved, click one of these buttons!
The most Intuitive, Well Organized and Good Looking forum on the Web. It has never been so fast and easy to start giving premium support.