Clude Oil Future (NYMEX)

NYMEX:CL1!   Light Crude Oil Futures
***Recorded for missing an opportunity***

Trading Signal

Short Position (EP) : 65.10
Stop Loss (SL) : 65.60
Take Profit (TP) : 63.30, 62.50

CL future formed Double Repo Sell at day time frame. Short position at market price (65.10) when the market open and place stop loss after 0.382 level of Fibonacci Retracement . When the price go down below first agreement (64.45), shift stop loss to Break Even (BE) position (65.10). Until the price reach TP#1 (63.30), close half of the contract opened. Wait until it reach TP#2 (62.50), then close the other half contract opened.

Money Management
Money in portfolio : $53,000
Risk Management (2%) : $1,060

Position Sizing
1 Tick value = +-$1,000
EP to SL = 0.5 Tick value = -$500/contract
Contract size to open = 2 contracts
EP to TP#1 (Close 1 contract) = 1.8 tick value = +$1,800
EP to TP#2 (Close 1 contract) = 3.1 tick value = +$3,100

Expected Result
Loss = -$1,000
Gain = +$1,800 + $3,100 = +$4,900
Risk/Reward Ratio = 3.9
High Supreme Merchant
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