18 January 2016, Monday, 7.40am Singapore Time
Attached above is the 4-hourly chart for the US Light Crude Oil (WTI Oil).
Shorts Entry inside the Bear Pennant, Shorts SL and Shorts Exit as shown on the technical analysis above. Refer also to my previous analysis on US Light Crude Oil just before the breakdown when the Shorts were taken:
http://donovan-ang.blogspot.sg/2016/01/us-light-crude-oil-15-january-2016.html
There is 1 breakaway gap and 1 gap down following the breakaway gap. So one can take shorts profits slowly (2 separate batches) on such a technical structure.
Partial Shorts Profits are now taken following breakdown of the Bearish Pennant,
i.e. taking shorts profits following a technical breakdown. Closed the February-expiry and March-expiry contracts.
Refer to USD Analysis for implications on commodities and crude oil:
http://donovan-ang.blogspot.sg/2016/01/usd-index-and-implications-for-all.html
http://donovan-ang.blogspot.sg/2016/01/us-light-crude-oil-15-january-2016.html
There is 1 breakaway gap and 1 gap down following the breakaway gap. So one can take shorts profits slowly (2 separate batches) on such a technical structure.
Partial Shorts Profits are now taken following breakdown of the Bearish Pennant,
i.e. taking shorts profits following a technical breakdown. Closed the February-expiry and March-expiry contracts.
Refer to USD Analysis for implications on commodities and crude oil:
http://donovan-ang.blogspot.sg/2016/01/usd-index-and-implications-for-all.html
Above are the profits in ($) US Dollar (USD) and (SD) Singapore Dollar (SGD).
Below are the profits converted into (SD) Singapore Dollar (SGD).
Below are the profits converted into (SD) Singapore Dollar (SGD).
Profits in this trade:
+S$ 99,873 SGD
Cumulative:
S$ 39,716 + S$ 99,873
= + S$ 139,589 SGD
Trading Journal:
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