I took 2 CL trades today, both shorts and both winners. The first was a breakout with trend. Price was moving relatively fast after the 15:00 news event and had been in a down trend most of the day. So when it stalled and painted 2 HVC bars on the 500 tick chart I looked for a breakout. The trade was good but I took 6 ticks of heat. I had a 11 tick SL and profit was taken at 23 ticks. I was trying to move my profit target down, but it triggered before I could do so and missed out on another 40 ticks.
The second trade was after a 2 stage pullback and when I saw a HVC followed by a RPM down bar, I entered another short and was aiming for 50 ticks, but it would need to break the recent low. Unfortunately it had problems breaking the low after we had a HVC bar. Once I saw that price was stalling I took profit for only 10 ticks. Good thing too as I would have been stopped out.
Here is the video of the second trade and a screenshot of my entries and exits.
http://www.screencast.com/t/gnmtythjmwuO
No comments:
Post a Comment