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 shorted Oil (WTI Crude) last week and unfortunately the trade went against me and I lost 200 points. Unfortunately, in trading this happens but over the long term I expect that I will win more trades that I lose so it doesn't bother me too much. Anyway, here's the reasoning behind the trade. If you look at the weekly trade, you would see that the 10600 level actually was a strong support and resistance line in the past. Where I have green arrows you can see how the price had reacted
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
