USOIL looks like it wants to pull a minor trend change here. Perhaps turn into a $50-$58 trading range for a month or two. The chart is pretty self-explanatory. Looking forward to see how this plays out.
Comment:
Limit buy order 1/2 position @ 5155, a 70 tick stop @ 5085
Trade active:
Long @ 5201, a tick stop @ 5131 and 1R-5R targets
Trade closed manually:
Exit @ cost. A better entry should follow.
Trade active:
Long @ 5183, a 70 tick stop @ 5113 and 1R-3R targets
Trade closed: stop reached:
-1R
Comment:
Limit buy @ 5067, stop @ 4997
Trade active:
Limit buy order filled
Comment:
Limit sell 1/2 position @ 5137, the remaining 1/2 will be working the same stop
Trade closed: target reached:
1/2 position sold @ 5137 with 1R return, remaining half working with the same stop. A risk free trade from here.
Comment:
Limit sell @ 5277, a 3R target on the remaining 1/2 position
Trade closed: target reached:
Limit sell @ 5277 filled and 3R return on this remaining 1/2, a return of 2R on the full position.