127 - Results for Sept 8, 2017 - 3.3% Drop in Crude nets a 4.27% $1,505 Profit on 2 Short Sales
Channel: Crude Oil Trading Journal
Date: 2017-09-08

* Well, we definitely got the action that I had anticipated after yesterday’s doldrums with 3.3% drop in the price of Crude
* As planned, I hedged the shorts with a long buy at $48.05
    * I then sold 2 short positions after the drop below $48 at what I thought was a resistance level @ $47.75
* Of course, we then dropped again and after it settled for a few minutes, I bought long again at $47.39
    * We ultimately dipped to a low of $47.28
* Average profit of 4.25% on 2 positions for $1,505
* Bounce on Monday?
* Next short is at $47.10 if we drop :) 

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