I am inclined to take this trade. But I will wait till market close today to decide. Possible Inv. HnS formation that should push oil to Trendline resistance at 49+. Granted that we are down about $2 in this session, any down movement will be limited. I will buy and hold overnight. If no significant pressure up, I will bail.
Of note, is that we have got that 45 area retracement I highlighted in my USOIL chart last week from 47+
Of note, is that we have got that 45 area retracement I highlighted in my USOIL chart last week from 47+
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As stated, I decided to long at 45.10 at close. I came back and don't know what happened. It knifed down and run back up to 45.58 now. Interesting! I moved my SL to break even. I will let this run at zero risk
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My 45.10 LONG yesterday in good money now. Awesome!
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Closed LONG 45.10 at 46.35. Good run. Standing on the sideline to reassess especially with tomorrow being friday. I do not intend to hold anything over the weekend.
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Thank God I bailed on time!
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WRONG! WRONG!! WRONG!!!
I was lucky to have bailed from my profiting trade 45.10 - 46.35 yesterday. I looked for another long opportunity but couldn't find it. The lower high on daily and Stochastic bearish cross scared me away from longing. And as a matter of principle, I do not open positions on friday. So I will be waiting till next week. Flexibility is an optimum principle in trading.
I was lucky to have bailed from my profiting trade 45.10 - 46.35 yesterday. I looked for another long opportunity but couldn't find it. The lower high on daily and Stochastic bearish cross scared me away from longing. And as a matter of principle, I do not open positions on friday. So I will be waiting till next week. Flexibility is an optimum principle in trading.