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)