Likely another small pullback presenting further opportunities to get long in this continuing uptrend.
I'm trying to become a better chartist and started trading NG and CL. Been long on Crude since September. Have you charted a similar steep Up-channel shown in green below? And less steep up-Channel in purple? The red line is a bearish resistance line of the previous tops. Basically I see 3 supports that price has to break, lower green line (at 62), lower purple line (at 57) and the red triangle lines (at 52) before CL goes bear. Given the strong bull/bear rebalance, my thesis (and trading expression) will be CL trading in a range till April/May time frame, between the green and purple channels. After which, one of the major fundamentals will push one of the directions. Curious to get your feedback
I don't use steep up channels. I use 3 different time frames to filter trend and I use indicators to keep me in or get me out of trades.
And what method do you use to arrive at the net result of your CL trading? I don't see it in your journal here.
Cool. But since you have made the effort post a journal, then why not share the results with the people who are following it? And if you don't want to disclose the size of your trades, which is perfectly understandable, then why not just have a hypothetical model account that tracks the net results of the trades here in your journal? You're already on page 50 of your journal. How do you expect someone who just came across it to make any sense of it without investing a considerable amount of time just to find out if it's even worth following? Further, don't you think such a simple accounting would be instructive for all concerned? This is a journal, after all.
I have enumerated the wins and losses earlier in the journal. I have subsequently indicated that I have just been rolling long month to month and stops have not come close to being hit. All is good.
This has been a good thread! Going Long on CL and minus the cost of hedges and commissions and everything has generated a 6-figure profit! @Buy1Sell2 , lemme know where to send the 10% management fee to,