 Hey, what's going on guys? My name is Mark and I like to day trade and that sort of thing So I thought I would just share with you quickly I just bought a position in oil and you can see we're up 6% 7% at the minute Have another share or anything brush my teeth. I just thought I'd make this video quickly So I can share with you why I bought into oil What I'm seeing here and and why I think it's a good buy right now, right? So As you can see, let's just make this chart a little bit bigger We're up 10% 9% you sit fluctuating right so you can see here I've got the four-hour chart right and you can see this EMA line here if we take a look At oil for the past couple of months you can see that it's actively been trending up right higher highs higher lows High highs high lows high highs high lows, right? And so what you can see is there was some consolidation around this 67 mark And then the reason I bought in here is it's broken above the EMA here at 6810 And then it's pulled back to the EMA Validated it as a support right you see this red candle here. It's pulled back as a support And then as I've seen it start to push up that's that's when I've bought in right and I've got two positions I've got a small one to open it just to test the theory and then as that's validated itself I've bought in more right so averaging up which is always better than that averaging down for the most part And you can see obviously the SMA line pointing up right EMA line is pointing up sort of We're kind of getting a curve upwards here The MACD is curving in and the RSI is pointing up and it's not oversold So those are like my basic criteria When I'm looking to buy something I won't buy anything unless it ticks those boxes So yeah, so that's why I bought oil just a quick video If you don't know what the RSI or the MACD or or anything like that is EMA SMA I do have videos on my channel as well Links will be in the description if you enjoyed this video if you found it helpful then Be sure to subscribe like the video check out other things I do like weekly Stop breakdowns daily recaps on how things have gone and what I've picked up that sort of thing But yeah, so break above the MA pulled back validated on this candle and we seem to push up I've actually got my take profit set to around this 68 62 level I'm obviously we know that the resistance is around a little bit higher around like 69 10 But I just play it safe. I've got my stop-loss really close as well. So I've got it I Think it's 67 90 just below this green candle here because that would obviously be a breaker pattern Because it's it's broken below the MA and it's gonna may come back down. So I'd rather just cut my losses short But you can see I'll show you the positions a little bit close So I'm out for a $9 a minute see my stop losses take profits here up 18% on the first position 9% on the second which is slightly larger position But yeah, so that's that I hope you guys found it helpful and I'll have another video probably later on today With Facebook earnings and that sort of thing and golds looking quite interesting as well. So, yeah Catch you guys later