Trade What You See

Hurricanes, Wars, GDP, all bullish for oil.


Wrong, oil goes down.

I don't know why, and most importantly I should not care why.

I'm supposed to trade what I see, not what I (or anyone else) think.

I took a couple of trades as oil was breaking $120 this morning. I was expecting a big upside move if we could get through $120. We got through $120.

Then we went down.

I hit my daily stop and was not able to participate in the nice downtrend later in the session.

That's my plan.

I trade my plan.

13 Tick Crude Oil Renko Chart (click to view)

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