This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I don’t want to turn this into a personal trade log, but I will attempt to show different types of trades as they occur. Oil gapped down this morning, and I faded the gap when the reversal on the PnF chart printed. I placed a hard stop underneath the lows of the morning.
This trade only paid out .45 on .25 risk. Not quite 2:1.
As you can see from the PnF chart, the gap fell right into major support. I exited as it stalled around the middle of the overnight session’s trading (white lines on PnF).
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
