Here are a couple of Friday trades to round out the week.
First up, OXY:
All standard stuff here. A nice drop on good momentum, and a simple exit at a logical location combined with the momo falling away.
There was a second entry to be had less than an hour later, but alas I was not watching it at the time. A glance at the volume suggested there was probably a lot less momentum around then anyway. Hindsight is not always 20-20.
Next up, DAL:
The entry wasn’t quite as well signaled on this one as the price had been a bit all over the place at the open. Still, we were conclusively over the EMA and momentum was showing an upward trend, so there were some good reasons to get in.
There were equally good reasons not to try to ride this too long, hence the quick exit at the first sign of trouble.
A Turbulent Week?
Speaking of trouble, the week ahead looks like it may be pretty chaotic in the markets. From a purely trading point of view, that’s good news. We are likely to see a lot of opportunity, though much of it will not be for the faint-hearted! Good luck to all.