USO april 2017

I enter into trade on 28. 3. 2017. I place a bet on day earlier with a stop buy order. Reason to put a bet was double touch of the resistance level at 9.80 and the price was quite away from Keltner chanell. Also RSI indicator on weekly and daily time-frame was in oversell region.

Stop loss:

  • initial stop loss was at 9.60
  • after five days I move hard stop to 10.40
  • after nine days (after gap) I move hard stop to 10.84 because of a little pullback in that area.

I didn’t wan’t too tight stop losses because to that area I expect a pullback. I made a profit of 1,19 R. My initial target was a little more than 2 R.