Long
LGCY
Over the last 8 trading days, Oil has dropped from $44 to $40. Meanwhile, LGCY has simply held in consolidation.
Today Oil might be putting in a DCL and LGCY seems to be breaking above its 10 & 20 SMA.
Buying here @ 1.77 with a stop @ 1.62, or about 10%. Overall risk is < 1%.
I made a LOT of money in LGCY earlier this year, and then gave back a good chunk of it. It was a fun ride. A good reminder to sell when it gets high.
Today Oil might be putting in a DCL and LGCY seems to be breaking above its 10 & 20 SMA.
Buying here @ 1.77 with a stop @ 1.62, or about 10%. Overall risk is < 1%.
I made a LOT of money in LGCY earlier this year, and then gave back a good chunk of it. It was a fun ride. A good reminder to sell when it gets high.
Trade closed: stop reached
This didn't work out. For whatever reason, Oil has rallied and LGCY hasn't followed. Other Oil positions have more than made up for this miss.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.