Update on Oil Shorts

Expect the ending diagonal (whose strength I had previously underestimated) to continue until ($42.20-$42.50).
This should then complete the uptrend in wave 3v or a wave-5.

Currently holding 0.8 contract short averaging $37.52.

Amend (10k) entry short limits from < $41.40-> $41.80 > zone to the < $42.30, $42.40, $43.50, $43.60, $43.70 > each entry at 10k to a total of 50k in all.
Position average becomes $39.43 to a size = 1.3 contracts with average risk @ $42 = -3340 ~ -33% on a $10,000 account

IF SHORT ENTRIES FILL, place TP for <$42.30->$42.70> at $41.05
Also place TP for 0.2 contract size ($37.52) at $41.05
position size then diminishes to 0.6 contract averaging $37.52 at a total risk -$3000 = -30% at price level $42.50
DON'T PLACE SLs

Tp for 0.6 contract remains at $34 as per target on chart above. DO NOT get greedy & hold to the added shorts at <$42.30-$42.70> to target $34.
If/when momentum confirms reversal to the diagonal formation, we could re-add shorts on the way down. Note that as things stand we have almost doubled the risk level on the account from -15% to -30%, even though the contract size has diminished by almost 50%

Take Care & Stay Safe

Trade active:

Price currently $38.00.
Time to start making some money at last
Raise Tp on remaining 0.8 contract to $35.35
once price breaks $36.00 take SL down to entry + comm.
Position entry average =$37.52

Take Care & Stay Safe

Trade active:

I am planning to improve my short portfolio as follows:-In case there is a spike in prices (wave-4)
Sll 10k @ 38.80
Sell 10k @ $39.30
Sell 10k @ $39.60
In case there is a spike in prices (wave-4)
Sell 10k @ 40.30
Sell 10k @ 40.50
Already holding 0.8 contract short averaging $37.52.
If above positions fill, size increases to 1.3 / standard contract, averaging $39.
Risk at $41 becomes -$2600 = -26% on a $10,000 account.
Raise Target to @ $35.60 (1.382 fib ext) / or $34.80 (1.618 fib ext)
once price breaks $36.00 take SL down to entry + comm.

Take care & Stay Safe

Trade active:

shorts at $38.80 & $39.30 filled
Position average raised to $37.826 for a 1 complete standard contract
Tps remain the same $35.60/$34.80. Risk calculations same.
keep remaining sell limit orders in place, but amend 10k @ $40.50 to become $40.40

Take Care & Stay Safe

Trade active:

Holding 1 standard contract short averaging $37.826
Add Short Limits as follows
10k@ 39.90
10k@ 39.80
10k@ 39.70
10k@ 39.60

If filled position average becomes $38.37 for 1.4 standard contract- Risk at $40 is -23% (-$2300). Risk @ 440.50 = -30% (-$2982)
Target same @ $32.50

Take care & stay safe.

Trade active:

<$39.60-$39.80> filled, to a contract size = 1.3 averaging $38.25
Remove 10k short entry @ $39.90
Risk assessment remains as outlined above. Target remains @ $32.50

Correction:-
"440.50" above should read "40.50" Sorry for the Typo
Take care & Stay Safe

Trade active:

The position has reached risk @ $40.50 = -30% for 1.3 contract size on a $10,000 account. So I will work to assimilate1/3 the risk.

Place Tp for short holdings $39.60-$39.70-$39.80 @ $39.20
Place Tp for 1 x 10k short acquired at $37.826 also at $39.20

$39.20 is y'day's low, and the lower 1HR BB.

If filled contract size gets reduced to 0.9 at 37.826 average.
Risk @ $40 becomes -$1962 = ~20% on 10,000 account

Targets for 0.9 contract remains the same @ $32.50

Take Care & Stay Safe.

Trade active:

There is a Bear Motive on the 1HR chart now doing a wave-3
Remove TPs @ $39.20
Holding 1.3 contract shorts averaging $37.826 targeting $32.50
Add Short limits @
10k @ $40.10
10k @ $39.90
All to same target $32.50

Take care & Stay Safe

Trade active:

10k @ $39.90 filled to an overall average $37.97 for 1.4 contract size.
take the 10k @ $40.10 limit short down to $39.25
TP for all remains @ $32.50

Take Care & Stay Safe.