Crude intraday trade 14july 17

 

crude intraday trade
20 points

 

This trade was before the sudden fall in oil prices at around 6 pm today.

 

So i bought 4 lots when the price broke last days high of 2984. My style is to book partial profit so that the loss is limited and then add again if the price retraces to some levels. I exited half of my quantity at the red box resistance area waited for price to fall to the 38. retracement which  incidentally was at the last day high and then added the half again and saw it go till 3010. Book 3 lots there as i saw weakness and then let one lot running.

Sadly oil suddenly fell in miunutes but i made around 500/- profit because of my profit booking technique.  If i have to rate this trade then it will be 2.5/5 because i was too involved. I should have left some stoploss and reentry order ready and let the system do its work.

 

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