Trading Log: 4-11-18 real trades $130 before comissions

CL: as in previous post (see previous), oil has been breaking out of a massive long-term triangle...potentially. I noticed weakness in the 3m triangle and placed an order below it. The market did break out and I moved my stop down sequentially to 66.76 where I was stopped out. I had a profit target of 66.51 at the .618 retrace and top of the triangle, but it turns out this was too ambitious. More of a long-term target and I wasn't willing to stay in this trade that long (especially because this instrument is highly leveraged). Also, CL wasn't dropping rapidly. I shouldn't have been shooting for such a target.

Another target was suggested by the .50 retrace, which was subsequently hit exactly after an exhaustion move (which was another warning of impending end in this case--due to context of previously slow decline and time of day--lunchtime on wall street) Coincidentally, this .50 retrace also made a perfect 3m bull flag. I was sortof anticipating this but got too caught up in the success of the trade! In short, I should have been aiming for a nearer target and completing the bull flag was the perfect target, plus the .50 retrace confirmed. This was a cradle. Should have recognized these factors and gotten out then, more than doubling the profits.