Trading Oil Intraday Long
We were expecting the price of Oil to increase and looking to take advantage of the strong momentum building in the market.
Price had just broken out on the mid time frames and we managed to get positioned after a price retracement at the start of a new intraday trend forming on the 15 minute time frame.
An hour later the price of Oil had exploded in our favour and was hitting 4th target. we aggressively trailed our stop one target behind price to lock in profits once the momentum subsided. Here moving up to T3.
Price eventually retraced and after failing to advance much further and retraced back past the original stop location. Using aggressive trailing stop management on this occasion we were able to lock in profits at T3.