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
Posts Tagged oil trading
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!
I got a good entry into Crude Oil last week. I was long pretty much at the bottom of the green candle after the large move down. I had my stop at below the large red candle at 9230. During the day, the price action rallied and I was 60+ points up and the trade was looking good. However, the following morning the price action fell and hit my stop and then bounced strongly upwards. This is really unlucky and I think the entry was a good one. However, these things happen when trading an