USOIL - Shark Pattern at $52.50

25 Okt 2017

Tonight we have CAD news.

It is likely to affect USOIL.

This is a great setup, shark pattern + nice exhaustion volume at PRZ.

The safe way is to wait for break of trendline before shorting.

The not so safe way is to short now with stops above $52.80.

Should see a minimal move to $51.70.

If it breaks the support trendline, we should see a HUGE fall for oil.

I'm bearish on USOIL. We shall see it unfold tonight.

26 Okt 2017

Dagangan aktif

went in at 52.40 yesterday as per my analysis.

Will be taking 1/2 my profits off the table at 51.60 where it hits the support trendline.

27 Okt 2017

Nota

Went to sleep early and woke up stopped out of this.
Inspecting the chart, I realize that probably a breakout of a trendline could be profit taking clues going forward.

Had at least 50 pips of profit but got stopped out at 30 pips loss instead.
The same thing happened with USDJPY too.

I guess the problem was I was doing all counter trend trades.

Big trends seldom change unless there are high impact news which forces the professional traders to change direction.

Going forward, for counter trend trades, I will be careful and take profit if it does a breakout against my trade direction.

27 Okt 2017

Dagangan ditutup: hentian tercapai