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Crude is scared of heights

Crude is scared of heights

Crude Oil WTI NYMEX:CLX2015

We were taken out of our Crude trade today as crude had a large down day. This is why we use stops and proactively manage the trade. This is also telling us it's time to reassess. Crude is NOT broken technically and we still like the upside and will look for triggers long but now we will keep a tight leash on new trades. So what is the take away...manage your trade once it goes in your favor. Don't let a winning trade turn into a losing trade and it's ok to stop out. You can always find another trade if the pattern is not broken. Stay tuned.