oil open range breakout long signal plotted

31 lug 2014

Oil open range breakout long signal has now been plotted

This trade example is for educational purposes to show users of the MicroTrends indicators sample trades.
And i am calling early and (perhaps not on the best day) to show what it looks like as you go into a trade... win or lose... that is irrelevant, this is about learning the systematic approach of entry, stop, target, exit....

After a big day yesterday --- we may just sit here going sideways....so we wouldn't want to be trading that ideally.. however this might change shortly...

Please see related post for how it looks pre trade...
so the point is you got loads of time to assess and plan if your will take a trade long or short... and combine some other nuance, news or factor with it...

So as for trade accuracy i am not interested... in this post and is not the purpose...
What we are interested in is
how to trade it
What a win looks like, what a loser looks like...
how to combine timing and fundamentals or price analysis to improve the win ratio...

So you could do this on this trade... For Example

Entry above 99.65
Stop 99 .40
Short Target 1 99.87 trail stop to 99.55
Target 2 : f50% 110.24 -trail stop to f23% - 10 ticks
the trail each grid....
so at F76% you are under f50% with the stop
Exits
For exits you could do something like - above f50% if you reverse back below exit 1 bracket or all position

So first thing is learn this:
On a signal:
Allow 3 to 4 per day… - chose your session etc
Entry, Stop, Target and Exits

+ later nuances and results optimisation
and you will be able to formulate a trade plan…

These indicators are available in Charts > Indicators > Market Place Add-ons > MicroTrends
more details of the indicators can be found here: indicatorfactory.com/tradingview-indicators/