faylee
Short

Short oil for a retracement

FX:USOIL   Crude Oil (WTI)
1688 11 42
Oil             will retrace soon, now the correction wave was completed!
Sell for a retracement, target at 45-44.6

Long term still go long
Trade active: my entry: $48.4
TG1:47.7-47.45
Tg2: 46
In my opinion, today's rising potential is up to 48.1 (resistance) ... 48.6 (0.786 fibo retracement) & then would be correction.
Reply
Be careful with the short. You stand the chance of making 2 points, however, this bullrun can push your losses to 5-10 points. Don't be surprised to see oil at 55 in mid Sept.
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faylee SupraBoy
I haven't shorted yet, No signal for short
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SupraBoy faylee
Just wait till this goes over 50 first. My guess is this goes to 51-52, then you short it back down to 48.50-49.50. Then the next run powers through 55. If you look at all the posts in tradingview, more than 95% of the people are bearish. That's a signal to go long.
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ajr9000 faylee
what would be a signal to sell? just to learn. thanks.
Reply
SupraBoy ajr9000
Signal to sell is when you scroll down the blogs and see everyone post going long on oil. So far so good. Just do the opposite of 90% of the posts and it's money in the bag.
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ajr9000 SupraBoy
hahaha SupraBoy very true. just wanted to understand the rationale of faylee.
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Like2Move SupraBoy
You're right.
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Now it time
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that dose not look good...
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where are we going with this? Appreciate your feedback?
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