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Follow the uptrends đ
How I traded oil this week
Good morning!
Reflecting on this BUSY week, I was a little nervous about buying tech stocks since they have had such a big move already.
Well, that move continued even farther than I thought it would and I have been selling off positions into each bump higher.
I felt very comfortable with oil stocks this week, since they were just starting to breakout to a new uptrend.
After two days, I had a great profit on my ERX trade so I took most of it off the table.
ERX is a 2x leveraged version of XLE. That is what I always tend to trade.
(XLE was my Bullseye Stock of the Week - which included my full trading plan and reasoning behind it).
Now, if you look at the chart below, you can see that oil stocks are heating up again.
*Note: Trading is hard, results not guaranteed and should not be expected to be replicated typically.
I am looking to get back into this trade today and hopefully next week, it will break through the highs it made this week.
That is how UPTRENDS work!
Learn to start following them early and trim your profits along the way up.
Interested in more opportunities like this? Havenât tried Bullseye Trades yet?
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Donât worry if you donât trade options, you can always just trade the outright stock for my ideas (I often ONLY trade the stock because it is easier IN and easier OUT).
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To YOUR success,
P.S. See my Bullseye Trade Tracker for great examples of what my trade plans look like in your email box every week!
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