RISKY LONG IDEA ON OIL at your own risk
Hi Folks:
Time for a pause. Going long with a small position for fun after having locked in nice profits. Never is a good a idea to try to catch a falling knife but at this level it is worth to give it a try.
We are approaching areas of important support but fundamentals crashed today and two days ago with SPR release.
Next week OPEC+ meeting will send prices higher with further cuts....
Cheers
AT YOUR OWN RISK
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Time for a pause. Going long with a small position for fun after having locked in nice profits. Never is a good a idea to try to catch a falling knife but at this level it is worth to give it a try.
We are approaching areas of important support but fundamentals crashed today and two days ago with SPR release.
Next week OPEC+ meeting will send prices higher with further cuts....
Cheers
AT YOUR OWN RISK
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
Trade active:
Trade closed: stop reached:
Closed the position with a small loss because it was a brutal drop! Overall it was a great day and interesting idea worth to try. It was panic selling but I do not think it should be that heavy. Big fellas locked in profits after a stunning rally below zero :)
Comment:
That's why using a SL on cyclical instruments is a waste of money. I use instead a hedging because price always comes back and forth and you will have chances to exit any of your stuck positions. This time I used SL so I locked in some losses and price would be now back to profit...