Oil Fade

Short term trade on 4hr chart. RSI overbought. Fade rally in the 25s with a stop in the 26's.

Trade closed: stop reached

I guess.. Buy ?!

Note

tbh, I dont buy this breakout just yet. Ill believe it when I see either close above 28.50 , or a solid support of the retest around 19.50 ish to 21.50 ish range. Also depends on what happens in couple weeks for next futures expiration rollover. Hard to imagine a V-shaped recovery in oil here, altho anythings possible. Breaks wont lie.

Trade active

this is looking more distributive now. going to try again accumulate shorts here in the 25's, 26's , adjusting to a smaller overall size then before and loosening stop to 28.5 .

Trade active

able to re-enter at the same price as stopped out before. cashed out some of it to break even on the initial trade. letting the rest ride. reduced position size, tightened stop, and moved in closer the target price. I think 22s soon.

Trade closed: stop reached

Stopped out at 28. Was wrong on this one. Ill take the L on it. Im still more bullish on gold and silver. Looking like commodities going up in sync again.

Trade active

Short again from 32.20 . Lets try this again. Target low 28's. Stop at 33.33 . China economy is being exposed today. I don't believe oil keeps rallying into that. And the 4H RSI level dumped below 50. Daily RSI near the top as well. Assuming this isnt the start of a new oil bull market, which I find very hard to believe.

Trade closed: stop reached

Gah! Stopped out again. At least there are larger gains on the China market short trade to make up for this loss. Oil is in demand! and/or all those "supply cuts".

Note

Wow another break. Suuper strong! Cray

Mavski

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Mavski