Another interesting chart I have is the daily Crude Oil price. You can see that there is strong resistance and the market has failed to get beyond this point. This could be a potential selling opportunity. The only thing about Crude is that it is very volatile and you need to be very careful with it. The market is currently closed but when it opens I'll see what the market looks like and may even short it... Will keep you updated!
Archive for August 9th, 2012
I got my 90 pips from the trade last night. As you know from my previous post, I had entered the market at 1.2370 with a stop at 1.2460 and looking at a 1:1 risk to reward trade which meant a limit order at 1.2280.. ie a 90 pip stop with a 90 pip target. The two spinning tops were the key here showing that there was selling at the levels, that coupled with the downtrend movement made me feel it was a good short play and I got rewarded. So, a decent start to my trading again after all t