CVX - longer term entry maybe.

176 4 0
Closed below the 200 SMA on the weekly.
Bearish retest Gap. Dan Walsh is looking for a longer term entry and trade.
IF CVX             closes above 112, I would be more bullish than bearish for the short term. If CVX             breaks the 108 low, could buy protective puts.
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I'm in CVX - Got in on 12/18 after the gap up , missed the retest but got in bout 107.38 w/ my stop at the low of the day 105.44 - I sold half my shares at 111.38 for 2r and continue to hold to about 1/2 y shares until 120 (maybe longer). I will move my stop up as CVX has Higher higher retraces and forms good pivot . Looking for covered calls 121 ish..... Great trade so far
Reallifetrading Dan.Walsh.Loves.Lous.Sushi.Dow
Sweet. :)
Is the trade active atm eventhough there's a bearish retest gap?
Yep. I mention that in the notes (about the gap). I'm personally not going to take the trade - for that reason but I don't hate it...
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