Thursday, 12 November 2015

[Bearish Setup] - WPX Energy (NYSE: WPX)

Entered a short position for WPX Energy yesterday.

Entry: $8.47
Stop Loss: $9.37
Take Profit: $6.68

RRR: 2

I entered this trade because of the indecision of the market the the past couple of days and judging from the volume, it shows the loss of momentum of the uptrend. My profit taking level is based on the prior resistance level.

As always, happy trading.



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