pparmy1991
Short

OIL corrective structure about to finish

TVC:USOIL   CFDs on WTI Crude Oil
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8
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ABCD corrective structure pulled back to 0.618 area, also a bearish harmonic pattern . Strong resistance from 50.80 to 51.20 and a good risk&reward ratio.
Apr 03
Comment: If price pulls back to 50.45-50.50 area and a reverse candle is observed, probably could add short entry
Apr 03
Comment:
Apr 04
Comment: Some thoughts on USDCAD, Watch oil drop to 49.25-49.40 area. Based on the pattern of USDCAD, oil might pull back from that area. Don't chase the price, short the pull back!

Apr 04
Comment: Nothing has been really changed yet. Would like to see the data reaction tomorrow. Set a comfortable stop loss and that's it!
Apr 04
Trade closed: stop reached: Still entered early, not patient. Reexamine it later.
May I ask what vehicle do you use to short oil? Thank you so much.
Reply
pparmy1991 Toland888
@Toland888, For now, I use DWT, so I will close it early tomorrow morning. What I am doing here is just some practice before really join the future market :)
Reply
Toland888 pparmy1991
@pparmy1991, Do you think about using short UWT instead of buying DWT? If you can control your position, you can have contango to cover you some loss by decay.
Reply
pparmy1991 Toland888
@Toland888, If you have a margin account, it's better to short UWT instead. But right now I am just a small fish, I did not open margin account yet.
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