Classic "overbought in a downtrend". Short

Crude Oil (WTI)FXCM

Description

⋅ Feb 4, 2015 6:04 PM

Typical oversold rally. Wait for the trendline break to initiate shorts.

Comments

Stanleymissi

⋅ Feb 4, 2015 10:17 PM

Where is your target of this short, Chris? Do you see the down trend to resume?

timwest

⋅ Feb 4, 2015 6:10 PM

Good chart. How close do you put your trailing stop here? 51?

KRSCBOE

⋅ Feb 4, 2015 10:04 PM

I don't. I just wait for the price to show some positive divergence, and get above the 20 ma

Mickette

⋅ Feb 4, 2015 6:09 PM

Tell us very soon the entry price for Long again ;-)