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zhipengcfel
Aug 4, 2016 8:38 AM

Trading setup for USOIL (2016-08-04) Long

NYMEX:CL1!240
Crude Oil FuturesNYMEX

Description

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Long at 40.8 with
SL: 40.52
TP: 42.52

Trade active

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Trade closed: stop reached

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Trade active

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Comment

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Finally it is up. Pay attention to the next target 41.83 and then 42.52.

Comment

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Nice rally! 41.83 is touched. I will add more positions when it retraces.

Comment

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Comment

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Nice rally! It is coming to our target soon!

Trade closed: target reached

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Half of the position was closed. The remaining position I moved the SL to 41.9.

Comment

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I will pocket all of the profit at 42.87~42.92.

Trade closed: target reached

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All of positions were closed!
Crude Oil WTI
Comments
nietz1
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nice work !red line is important
zhipengcfel
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Yes. I just booked all of profit to see whether it can break the bearish trend line and decide the next trade setup.
smitheric1970
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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!
smitheric1970
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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.
zhipengcfel
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Agree! Thanks for sharing.
zhipengcfel
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Thanks. Agree! If 41.86 breaks, we will see 42.5 and 43.24 soon.
tbuckle
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how far down do you think it will dip for the retrace/add?
zhipengcfel
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I will add more when it comes to 41.4~41.5 zone.
plok
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Thanks for your post! That's one interesting ED you draw there.
Good trading to you.
zhipengcfel
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Thanks!
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