Short

May be a US OIL sell opportunity soon

Updated

If the current candle becomes anything resembling an engulfing candle I would recommend a sell and I will look to take profits around 42.
Failed to reach previous high.

Trade closed: target reached

Ive taken profits waiting for pullback to reenter.

Note

Its 3am in aussie, I am being cautious as there is no bearish kumo in sight and watching cs to see if it goes through price.
It will be interesting to see if price enters cloud,

Note

I left this trade open overnight which is unusual for me and something I wont do again even though it resulted in a big win,
We hit new highs and to me this large bearish candle at the top is reason enough for me to take the trade but I was in the trade regardless when it was time for me to call it a night, often it is not a full engulfing candle but when the wick or the next bearish candle is included it can have the same effect.

Note

I am waiting for any sign of another bearish engulfing candle to reenter this trade on the sell.

Note

Rejected by cloud and ks I am now entering this trade on a pin bar reversal buy signal.

Trade closed manually

Sorry about the lack of updates I have been busy but this trade was a no go from the start took a decent loss from it, but overall still have done very well over the last couple days as far as USOIL is concerned.
Sideways markets and to a big extent ranging markets are not suited to my style of trading so I generally leave and look for other opportunities when it is clear that we are in a sideways stretch.
Still there is no red kumo in sight so I might set this one aside and look for more trending markets.

dcargotrades

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