Trading setup for USOIL (2016-08-04)

NYMEX:CL1!   Light Crude Oil Futures
686 14 17
Long at 40.8 with
SL: 40.52
TP: 42.52
Trade active
Trade closed: stop reached
Trade active
Comment: Finally it is up. Pay attention to the next target 41.83 and then 42.52.
Comment: Nice rally! 41.83 is touched. I will add more positions when it retraces.
Comment: Nice rally! It is coming to our target soon!
Trade closed: target reached: Half of the position was closed. The remaining position I moved the SL to 41.9.
Comment: I will pocket all of the profit at 42.87~42.92.
Trade closed: target reached: All of positions were closed!
nice work !red line is important
+1 Reply
Yes. I just booked all of profit to see whether it can break the bearish trend line and decide the next trade setup.
great post as always! There is a pivot/swap zone from 41.86 to 43.24; definitely with a stop also at 42.5 Strong pivot over the past two years. I think we'll see all three targets hit; possibly a couple of swings. Good trading to you!
+1 Reply
smitheric1970 PRO smitheric1970
Once we are back in this swap zone, it is fair game again; and I am in the bull camp. I believe we will try to test 54 before we head back down to the lows next year.
+1 Reply
zhipengcfel smitheric1970
Agree! Thanks for sharing.
zhipengcfel smitheric1970
Thanks. Agree! If 41.86 breaks, we will see 42.5 and 43.24 soon.
how far down do you think it will dip for the retrace/add?
+1 Reply
I will add more when it comes to 41.4~41.5 zone.
Thanks for your post! That's one interesting ED you draw there.
Good trading to you.
+1 Reply
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