USOIL
Forgive me for not being able to manipulate this as well as many but thought i would share anyway. Leverage is the double edge sword that strikes fear in many traders while others only see opportunities. To my mind understanding your risk and being consistent will make you far more successful than picking the right direction of a trade. Inevitably you will lose on even good trades and see all your gains go down the drain if you have not been able to manage your risk properly. All this was a pre cursor to the PAIR. It is extremely volatile and not for the faint heart. However my risk management is to limit my risks to 5% of my available capital. If i do this here my PIP values has to be aligned to my stops. I use a value equal to 10c per $400.00 available and a 200 pip stop = 5% risk
Having established that i entered buying at 98.69 on March 17th long and made 1000 pips in 4 days. No my fear of a major pull back caused me to exit there only to see it push on a further 400 pips before i saw the opportunity to re enter. Currently long and up 450pips from entry 109.92.
The technicals are the same you just need sufficient space for your stop because i see this retesting the 124.69 area. The Bullish trend is still in place with the candles all above the moving averages (4hr and higher) The sentiment is bullish and the war continues with Russia and Ukraine. If it retest the 112.00 my moving stop will take me out as that point would suggest a major reversal. Well that's it for now and so i am buckled in and along for the ride.