Friday 19 February 2010

March crude hits long term centre line @79.57


Ok here's the chart above of march 2010 crude that i have posted throughout this month with a great trigger line trade/failure to reach centre line trade. Today price continued to rally and we saw a high at $79.57....on closer examination this is my main centre line (of a mod Schiff ML set drawn in red) and seems to have acted as resistance. Possible short trade but not yet as price could shoot through though it looks tired. Sadly RSI & Stochs & ADX all suggested a short trade right on the redline but i was away from my screens. It doesnt fit my risk requirements and i am marking it down as a missed opportunity.

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