Hi traders,
I opened the NYSE:CXO SHORT yesterday because INSIDERS increased their SHORT positions. This information alone is not enough for me, because they are often in the market too soon... BUT!
We escaped from the Value Area (Trading Range) which imprisoned the market for about 10 years! And this is already a strong confirmation of the possible short move.
In addition, the edge of the Trading Range corresponds to the Trend-line. Another confirmation!
Parameters of the trade:
Market: CXO
Direction: SHORT
Entry: 56.67
SL: 65.72
TP: 38.57
Have good trading!
Jakub
FINEIGHT
I opened the NYSE:CXO SHORT yesterday because INSIDERS increased their SHORT positions. This information alone is not enough for me, because they are often in the market too soon... BUT!
We escaped from the Value Area (Trading Range) which imprisoned the market for about 10 years! And this is already a strong confirmation of the possible short move.
In addition, the edge of the Trading Range corresponds to the Trend-line. Another confirmation!
Parameters of the trade:
Market: CXO
Direction: SHORT
Entry: 56.67
SL: 65.72
TP: 38.57
Have good trading!
Jakub
FINEIGHT