Pascal
11-07-2014, 02:09 PM
Oil is bouncing today but large players are not buying.
26787
SCO seems to be attracting money
26788
We can see that SCO is pulling back within a longer-term uptrend. This means that we could buy the pull-back if we believe that oil will be weaker again. That is the hypothesis. This hypothesis seems to be what large players are trading right now.
26789
If this hypothesis is correct, the stats for a long SCO trade are below.
Of course, if the hypothesis is wrong, we will need to get out of the trade. This is why we have a stop below the envelope.
The general idea for making money is to follow the main trend.
26790
26787
SCO seems to be attracting money
26788
We can see that SCO is pulling back within a longer-term uptrend. This means that we could buy the pull-back if we believe that oil will be weaker again. That is the hypothesis. This hypothesis seems to be what large players are trading right now.
26789
If this hypothesis is correct, the stats for a long SCO trade are below.
Of course, if the hypothesis is wrong, we will need to get out of the trade. This is why we have a stop below the envelope.
The general idea for making money is to follow the main trend.
26790