AS I showed brent oil had a good retrace from 61.8% fibo level ,, and now continues to growing ,
but I prefer act based on daily chart , If daily chart will show buy alarm , the acceptable one , I mean above the daily sma and trend line and my system trading's alarm ( bbsqueeze gets green ,RSI above 50 , . . . .)
then I take a long position , and then will decide about stop , I show a target zone on chart ,
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If at H4 T.F. system shows sell signal then I will sell
Targets has been shown on chart , but for stop I will decide ,, THE LAST PICTURE ,,On chart I wrote daily SMA it is WEEKLY NOT DAILY