USOIL
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+
Note
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 riskNote
My 45.10 LONG yesterday in good money now. Awesome!Note
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.Note
Thank God I bailed on time!Note
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.
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