Posted by US Responds …..The Oil Price Responds…..
When the price hit the support of 70$ , when it spiked 4-5% and when the news was all over the internet, I could’ve taken a very small position may be with 1 qty with a stop loss of 4-5$ and targets of at least 1:2 and I would’ve benefitted immensely from the trade.
Prices do not exists in Vaccum. They follow the news. They follow the fundamentals.
I can apply Subhashish bhai’s teachings of risk reward, probability, position sizing and can make low risk high reward returns.
Prices follow fundamentals . Period.
Look for news, look for its reaction on stock prices. Look for big moves in oil, gold and currency.