Been net short and added into a few bounces on crude since we were at the highs.
We're at a big decision point now. If we can break lower I'd want to get short again from he same price we're at now.
Currently, we may be forming a butterfly low. If so, we should not get much lower than we are now. 1:6 RR from this spot long. Tend to have a min win rate of 35 - 40% in this type of setup and can get as high as 65% - 70% when after extended downmoves.
Nothing but pain for oil bulls under the last low, I think. I'm long here but do not have tolerance for moves against me.
We're at a big decision point now. If we can break lower I'd want to get short again from he same price we're at now.
Currently, we may be forming a butterfly low. If so, we should not get much lower than we are now. 1:6 RR from this spot long. Tend to have a min win rate of 35 - 40% in this type of setup and can get as high as 65% - 70% when after extended downmoves.
Nothing but pain for oil bulls under the last low, I think. I'm long here but do not have tolerance for moves against me.