Short Oil, another attempt
Updated
I stopped out of my last attempt. Admittedly, it was a bit early. It wasn't a big loss.
This time:
- RSI overbought
- Stochastic turning down.
- Distance from 10 & 50 ma.
- Strong resistance level.
- Intermediate cycle still due for a decline.
Looking for a decline to the 50ma. It could go all the way to the 200, but I probably won't be trading that.
Buying SCO, stops at today's highs.
This time:
- RSI overbought
- Stochastic turning down.
- Distance from 10 & 50 ma.
- Strong resistance level.
- Intermediate cycle still due for a decline.
Looking for a decline to the 50ma. It could go all the way to the 200, but I probably won't be trading that.
Buying SCO, stops at today's highs.
Trade closed: stop reached
Oil surprised to the upside
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