Charting Works! OXTUSD Target .85 Cents

I know, I know. I haven't always gotten it right. But, by and large, my understanding of technical analysis has helped me to net gobs of profit. Here's an example of my most recent trading activity on OXTUSD (which I still believe will hit $1.25+ before this year is over).

Notice how my first trade noted on the chart was a stop out. Always, always, always put your stops in kids. This is both a smart and humble approach to trading. It is like saying, "In case I am wrong, I will sell here". And then the machines automagically do the work for you. This was what happened to me the first time. The rest you can see on the chart.

A nice cup and handle has now formed on this chart. My bet is that we move to .85 cents area rather quickly. I am guessing before next weekend.

Don't be greedy. Take those profits along the way. And always put your stops in!

Happy trading friends.

Commentaire:

Due to the latest surprise dump (at least from my view), I've moved the target down and out a bit. I would suggest .80 cents as a reasonable target. Date moves closer to the mid/end of May:

Commentaire:

Broke the 200ma on the 4hr. Probably time to take some profits here folks.