OIL breaking up

2024年2月19日

OIL is ready to go up
Sentiment and COT data is well positioned, fundamentals checked.

Technically it's in a good spot, with short term trendline broken

I'm considering that there will be extra volatiliy (undecisive price action) because US market is closed.

But as soon as you see a good low entry point or confirmation tomorrow at NY session, enter the trade.

After reaching profit, try to old part of the trade a couple of weeks until 4th of March if you can, it has a high winning rate looking at seasonality.

2024年2月19日

註釋

To double clarify: I meant tomorrow 20th of Feb, 8:00 EST, not today 19th

2024年2月20日

註釋

Went down to 77.65 now. Good entry point for a small Stop loss if you are not still in

2024年2月20日

註釋

Got stopped out. I still belive in this trade, waiting 2 hours that NY opens and I start to see a reversal to enter again with a tight stop loss

2024年2月20日

註釋

Re-entering here

2024年2月20日

註釋

Google "triple tap" by paracurve.
I think now is the good one, I added full position now. Looking for confirmation of high volume very soon when US market opens.

Sorry for the messy entry signals

2024年2月20日

註釋

Ok, I like to see that green volume bar,

As I said at the beginning, this is a long term swing trade, so even if it was painful entry, don't take profits too early, let it run

2024年2月20日

交易結束：達到停損點

This was a bad setup, too early, lost more than I planned.

Lessons learned:
* If it doesn't work out smoothly, don't force it, let it go. Be patient.
* Don't try to jump in before the confirmation happens.
* Assume higher stop loss area, since the profit target also is in my opinion much higher.

That said, fundamentals and sentiment and seasonality support this trade, but wait for a confirmation.