jaycoba

Crude Oil Long

Long
NYMEX:CL1!   Light Crude Oil Futures
Crude oil went in my favor from my previous post. Looks like we are shaping up with an opportunity to go long again at demand below. I've got 2 levels I'm interested in. I think Crude might stay with in the 58.73-53.60 range for the next two weeks. Taking both of these trades with activation orders at the dotted lines, so if news accelerates price below demand I not at risk of a loss.

Entry 1: 54.41 (Activation 54.33)
Stop: 54.13
Target: 56.32
Risk/Reward: 6.8/1

Entry 2: 53.94 (Activation 53.84)
Stop: 53.62
Target: 56.32
Risk/Reward: 7.4/1

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