Here I see a retrace back to the 50EMA line. Will short here to see if we make another run down to the 58. Cheers
Comment:
Still in this trade. I did do something which I don't usually do which is I moved my stop to 63 from 62.5 so I was NOT stopped out. I rarely every touch my stops anddon't recommend most people do. But for some pairs you will see the fluctuations are huge and sometimes you need to think about how the overal trend is and act accordingly. I am still very bearish on oil. will watch and see. I may exit early if I notice a sideways move or hesitation of it going down further.
Trade closed: stop reached:
I got stopped out of this one for a loss. But then went back in today on the turn of the tide. Made a small profit to make up for some of the loss. I am holding a position in oil to see if it will go back to 60.