So this week was quite an adventure with Crude Oil. I had a long trade outstanding from last week. I had gone long at point 1 in the chart. You can see that, at the time, the price action was right at support (as designated by the blue line). If you believed that the uptrend was intact, as I did, you would have gone long. However, I was proved wrong as you can see and my stop got hit for -111. However, as it was a significant support/resistance line and it got broken, I felt that this was surely
Posts Tagged oil trading
I was long Crude Oil earlier this week after it had formed a pinbar on a support line as you can see in the above chart. The price action unfortunately has not managed a sustain move upwards. In fact, everytime it has, it has been pushed down. On Friday, the price made another go at heading north but again, got pushed down. I'm still in my trade and anything could still happen but I'm starting to feel that it's more bearish than bullish particularly after a strong push down when the marke
Unfortunately the markets were not nice to me. There was a nice bullish pin bar which had form and I took it in my liberty to go long. However, it failed me and took out my stop (the blue line) for a 200 point loss. Oh well, nothing else to say about it!