Monday, June 16, 2008

Sweet crude trading

Sweet crude trading, baby! I love the volatility of sweet crude.

Strong uptrend on the 50-SMA on the 5-min chart. Yea, baby!! I am trading second retrace in the trend. I bought two contracts at slightly below $135.20 as indicated by the green triangle. Notice that at this point, MACD-H starts ticking up. A stop is placed below the cycle low to allow for some fluctuation in price.





The trick is try to ride the full cycle on momentum as MACD-H continues to tick up. I put in a trailing stop to get every possible cent of profit. I made a profit of $186 bucks on two contracts.



3 comments:

Brendan Lee said...

I'll be interested to short crude oil again if it rises near to $138, then I place a stop at $140.

Brendan Lee said...

Thank you very much my friend for putting my blog into your website.

I had included your blog link into my website as well.

See http://basemetal-trading.blogspot.com/

Vangie said...

Great work.