We can look for LTC to close above our 1st entry of 164. We now carry 2 positions of 164 and 128 in profit. We need to close and hold above 164 to continue to our TP#1 and TP#2
We are looking to enter ZCL if we close and hold above .0122 with confirmation. If we reject we will look to reenter at .011.
Take Profit 1 is .013
Take profit 2 is .014.
It would be smart to reduce this trade by 50% at the .013 level and add more on a bounce of .0125
We see a normal correction like we do in previous January cycles. I have marked some key points on this chart to show you what could potentially happen.
For those of you who do trade oil keep an eye on this bad boy this week. Look at the shared support / resistance. However what caught my eye is where is the volume we had the last two previous lows? In my opinion big money isn't convinced on this bottom especially with the lack of volume on this last low. Is this a fake break out or did we / do we consolidate for...
