Sunday, May 6, 2012

5/12/2012 - $CWEI chart and setup

5/12 - no entry from last weeks chart.. still would like to see regaining the 200 day before going long again. breaking of the downtrend line would be positive as well. no touch here.

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5/6 - going to be a no touch till some strength comes back.. lost the 200day on friday, going to sacrifice the first 5% of any up move and wait for first a break back above the 200day and then the downward trendline.. entry target on break of the trendline.. likely a 1-2 stop after getting an entry.

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