WFAD #42
$UKOIL & $IWM
$UKOIL
Brent oil futures
The first idea was to buy Brent futures ($UKOIL)
(see pic. 1).
The results are shown on the pic. 2.
We bought a combination of «False bearish flag + Spike + Climatic volume near a horizontal level». It is a rather good bullish entry signal. Then $UKOIL price started a consolidation over support zone. 6 days later our target was reached.
Profit from this recommendation = +4.72% in 6 days (+283.2% annually)
The lesson is =>
- False patterns work well.
$IWM [NYSE]
iShares Russell 2000
Financial | Exchange Traded Fund | USA
Second trading idea was to buy iShares Russell 2000 ETF. ($IWM) (see pic. 3).
The result is shown on the pic. 4.
We bought the breakout of a bullish flag consolidation. The entry was made after a breakout of the local double bottom pattern basis. In the beginning of March 2017 $IWM price showed some weakness and returned back under the basis of 2-bot. pattern. It was a clear signal for us that, at the moment, bulls were not as powerful as we expected. That is why we moved our stop-loss order higher, a little bit closer to the market, under a local lower low. Several days later the market hit into our stop.
Now the market looks neutrally. And it became possible that a primary bearish H&S-top reversal is building now. Now we are waiting for further market signals.
Loss from this recommendation = -2.57% in 30 days (-30.84% annually)
The lesson is =>
- Sometimes flexibility helps to manage bad trades more efficiently and minimize losses.
