Look where WTI Crude oil bounce off. VERY close to the level I thought had merit on Friday with confluence of daily support and that 4H swing point Fib retracement. I am not here to debate the merits of Fib which I always used as the last piece of confirmation tool instead of a trigger.
Anyway I wasn't going to be sucked into a trade on a Friday to hold over long WE and neither do I know what will happen on Monday. What I do know is that the size of stops I place intraday will not be large enough to withstand a gap on Monday of to make me feel comfortable. It is all to do with the stop size and not the direction of the trade in one's favor. Price is never that predictive on the journey but destination is far "easier" to expect and the only aim when measuring the Risk Reward. This one is a very mediocre one!
