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Hayekian_Fibonacci

Short-Term OILU Trade

Long
MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (AMEX:OILU)  
Hayekian_Fibonacci Updated   
AMEX:OILU   MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN
Trend Analysis Chart Patterns Technical Indicators oilscalp Crude Oil WTI OILU longoil oilmarket OILD oillong
6
2
trendanalysis chartpattern indicator oilscalp usoil oilu longoil oilmarket oild oillong
Entry: 17.50 pullback & 19.15 breakout
Stop Loss: 16.90
Exit: ~21.85. ~24.60 if you think USOIL will hit $59
Trade active:
The low ended up being 17.67. My buy-order was set at 17.55 so just barely missed it. My entry ended up being 17.80.

Lesson learned: Be a smidge more conservative with my limit-entry orders.
Trade closed: stop reached
Comment:
Was off by about a week on this trade. Did it not do exactly as I drew it though?

After it corrected, one should've bought into the double bottom and below 16.6, thats the bargain zone. The goal is to hit the bargain zone during consolidations.
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