After making a double bottom in the early US part of the session, an entry long is taken risking 22 pips for a potential 97 pips to our Target 2. After the first bullish candle closed, we removed the risk from the trade by moving our take profit to just under halfway of the body of the large blue candle. Price continued upward as WTI pushed lower. We locked in profit and observe price to see if it could get through yesterday’s high. Price climbed higher and closed above the previous day’s high. We moved our profit stop to just under yesterday’s high to allow for it to retest the level. The following candle closed our trade as price began to retrace.
Due to a week of technological challenges and computer failures, I am only posting today’s trade as I am behind in getting the reinstalled programs up-to-speed on the newly installed hard drive while trying to trade and teach from a backup computer.
Enjoy your weekend!