Tullow oil - TLW

Hi Longterm.
Hope your well.

I make the RSI break out yesterday. According to my chart anyway!
You are correct this is struggling today....
Ideally would have been a nice to have a rise on the open which did not happen, and yep, this did not close above the 50 day.
It did close above the 20 day, if it fails to close above the 20 day today, i will close this trade..
ATM my stop is around that red line on the chart at 194p.
Let see if it can bounce back and respect that RSI breakout

Regards,
Trendfriend.

My chart shows that TLW broke the RSI trend line on the 26/11/15, it then retested on the 30/11/15 and now is above, however, the price hasn't broken the trend line yet though.

It couldn't close above the 50sma.



It seems to be struggling today.

This chart is delayed, but this has moved above the 20 & 50 day sma, the RSI also looks like its breaking out.
So, i long here, maybe should have waited to see how it closes today, but will add on close above the above the moving ave's.
Stops below 200p for now, will move to profit if it can get above 220p.

Regards,
Trendfriend.

Tullow also looks like an RSI breakout is possible. This needs to break the 20 & 50 day sma for entry.
208p for a long entry. Scalp only imho...Lets see how it opens tommorow.
You also have some RSI div's on the weekly...
Again stops are a must, especially as this is in a down trend, and it well only could be a bull trap..

Regards,
Trendfriend.

Trendfriend,

That was a good call on Tullow 09 Nov 2015 11:53.

I didn't trade it, still getting used to set ups.

Have you done any posts on how you trade? I tried to look on your post history, but it doesn't seem to go back that far.

I can see you use extremes of candles for trendlines and it appears you use the sma 20 & 50. Its just how you tie it all together?

stuff on the "tinterweb":

uk.finance.yahoo.com/news/why-tullow-oil...rging-143210648.html