CL Journal

Since you have started a journal: What do the charts say?

H.

 

Right now, they say long---that's why I bought--

 

That's an excellent reason to trade.

 

The reason to trade is to make money. A chartist TA trader like myself is able to trade any liquid market without any knowledge of underlying fundamentals. In fact, analyzing fundamentals likely clouds thinking when it comes to trading markets. What I do is limit my losses and let gains run to maturity. That's basically just about all one needs to know.

 

What charts do you usually use for swing trades like this? 1 hour? 4 hour? 15 minute?

 

All 3 plus daily and weekly

 

A bit of an early setback here as price is currently 46.86. Stop remains 46.21.

 

Stopped out for loss of 1.68

 

Long June 46.17 Initial stop 45.20

 

you went long in a downtrend, pretty much what surf does