I had a nice trade in CLF short early in the morning. Tried to short SLV after it rallied to the 50 EMA on 15 min. which ended in a loss. There was honestly no setup in the silver short trade. Also entered USO short. Since USO was not available for shorting , I shorted OIL which does not have much volume but I am posting the USO chart because I was following USO chart for entry and exit.
USO formed an inside bar just below R1, took out R1 but failed to take out PDH. It moved to the major EMA's and formed a bear flag on the EMA. I shorted on the break of the bear flag and price immediately broke down nicely. Love when the trades work immediately and better than expected.
USO formed an inside bar just below R1, took out R1 but failed to take out PDH. It moved to the major EMA's and formed a bear flag on the EMA. I shorted on the break of the bear flag and price immediately broke down nicely. Love when the trades work immediately and better than expected.
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