Kumowizard
Short

WTI - False break with two pin bars. Swing sell

FX:USOIL   CFDs on Crude Oil (WTI)
27 3 0
WTI printed two pin bars in last two days, which means the break attempt of the downtrend proved to be false. Daily Slow Stoch gives a sell signal. On 4 Hrs             price crossed below Kijun Sen.

Price will likely correct down to 101. The long term direction is still unclear. Price is stuck in a triangle. Long term play it in the direction of the triangle break.

Trade idea: Go short 103,10 - 103,80 range. Stop at 104,20. First target 101.
Triangle broken to the up-side?

Last short hope -- AB = CD starting from 24.03.17 and accomplished at the resistance 105.19
Reply
Agree. But I would rather try short only if it turns down from there and gives some proper sell signals on multiple time frames. I always analyse my trades in all details, regardless if they were succesful or closed with a loss. Actually this one was still ok, did it only with 0,5 trade unit, mainly based on 1 Hr Ichimoku signals, with relatively tight stop. Did not cause a big pain, did not hit my net P/L too much. But as you see it was a swing trade idea (counter trade) only, and per that, I did not expect it to become the trade of the year. It did not work, but all in all at lest we could learn something from it.
Reply
Short position stopped out. Trade is not valid any more.
Reply
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