I honestly don’t know where the markets are heading next. I cannot predict where and when the top and bottom shall take place. But I learnt it hard way, what I should do "stay" or "quit" when price is traveling beyond my reference levels.

Friday, July 15, 2011

Trade Update

Trade details of 14th July:

Crude oil :

Booked long@4285 as it was having stiff resistance around 4390. Even after mute retail sales and unemployment data, price was not able to take out 4400. Later in the evening, it crashed. Sold @4319 and holding the shorts now. It made low of 4215 i.e, 100 points from the entry but didn't want to book the shorts as 4400 had given a good resistance and prices just started coming down. Wanted to see if i am getting consecutive sell signal today otherwise will close the short today. SAR is placed at 4350 now.

Copper :

Making consolidation for last 3-4 days. Holding the long with SAR at 429.50.

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