Posts Tagged wti trading
The other trade which I had tweeted out last week was my long Crude Oil trade. Once again, you can see that there was a strong bullish pin bar showing that the buyers were in force. As a Daily chart trader, I entered my trade on the close of the pinbar (ie right at the top of it). The market over the next few days then sank and didn't look very well. In fact, the price action sank as soon as I went long and price dwindled pretty much at the base of the pin at the 9500 level. I pretty much lo
February 11, 2013
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We were sitting pretty with the breakout of the crude oil trade if you took the trade.. it would have been over 200 points in profit if you had traded it. I had mentioned that if price has moved above the support/resistance line, you should be wary of it's ability to go lower. Today, the market rallied and from the bottom to where it is now, it jumped 300 points. Obviously for anyone who is still holding this trade, it's a tough one as no one never likes to see a huge profit become a loss...
September 27, 2012
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As per yesterdays post, Crude Oil indeed broke through support and headed south. The move was pretty much down all the way until it got around the round number 89.00 when we saw some buyers.. the price has gone up since the low of 88.94 to now 90.14 but the trend is still down for this.
For those who are short, despite the buyers below, so long as the price doesn't go back above support (now resistance) you should be ok. I would move the stop down to 92.00 or so however to lower the risk
September 26, 2012
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