In all honesty, if somebody in your timeline was going "I am placing a long trade on Oil with the reasoning that the price is so low that it has to bounce", be very careful or outright fade them.
(1/5).

You can& #39;t look at this chart, call yourself a technical trader and act like you know what you are doing if you are placing a long here.

There was literally no sign of reversal throughout the day, there was very little technical reason to long if any.

(2/5).

I am keen on avoiding & #39;absolute terms& #39; here, but this is a very good example of & #39;knife catching squad& #39; gone wrong.
& #39;Price is low, therefore must bounce& #39; will run your account dry.

(3/5).

I am aware that +ve expectancy strat& #39;s could have had a & #39;long opportunity& #39; flashed today, I am also sure that those trades were executed properly if that has happened and adhered to stop.
I& #39;ve seen more & #39;traders& #39; buying this without a stop, they are the reason for this thread.

P.S. If you have seen anyone on your timeline do that, pm me their twitter handles. Will use as counter-indicators at times of volatility.

Thanks in advance