Saturday, December 27, 2014

Stopped out UCO

My oil trade didn't work, I was looking for a bottoming type of move, buying the break of the 6ma, 11.74 with a stop at the bottom of the box 10.75. It turned out that the 6MA break was rejected and this traded lower to the bottom of the box. 

I could have given it more room, but if the support does not hold, this will fall very quickly.  Its always better to sell where you can, than when you have to and the spreads open up. The prudent thing to do, is watch this box and buy the close above it, if a reversal trade still makes sense.

No comments:

Post a Comment