Shorted 1 lot of supermini oil at 139.01

U.S. House of Representatives approved a bill aimed at curbing excessive energy-market speculation. The bill, which passed 402-19, would require the Commodity Futures Trading Commission to consider using position limits, or constraints on the size of the stake each speculative investor can own, and raising margin requirements, the amount of money required to trade. The vote came after the record was set.

In my previous oil trade, my position was stopped out when oil price goes above $140. Oil price reaches a peak of US$141.31 before falling back again. Current price is US$139.01. I suspect that this could be a false breakout of $139 resistance level, so I decide to short oil again.

Shorted 1 lot of supermini oil at $139.01
GTC stop at $140.50
Target level at $134
Value of 1 point = US$100

Trading platform: FXYard.



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