Breakout up over $19.50 range.
With WTI and Brent oil going up, stocks like PE, and WPX will do well. I still have FANG, which is stuck in the 100 - 106 range.
Usual 10% stop loss in-play here. Long @ 20.25.
It' s hard to keep things simple.
Not fall for the illusion that a better technique makes a better musician.
To be actively patient, and do the right bet at the right time is what makes a profitable trader.
Then your strategy on how to maximize gains and minimize loss inside the trade.
And opening to dance in time.
I tend to make things more difficult than...
Here we have the 4H chart of Parsley Energy Inc. I am looking for two long entries at previous structure.
Entry: $ 25.68
Stop: $ 25.55
Target: $ 27.15
Entry: $ 24.60
Stop: $ 23.94
Target: $ 25.68
Will not be trading this myself, but I will keep an eye on it and keep it updated.