Crude Oil futures long setup

已更新
A pretty interesting technical opportunity has unfolded on one of our favorite instruments: light sweet crude oil futures.

From a fundamental point of view, after a historically tight range-bound market, price action broke down violently as US crude inventories surprise came in early march. Price continued to fall to $47.00 throughout March.
In late march, the OPEC decided to extend oil output cut by 6 months, which launched US crude oil in a healthy, sustainable rally, regaining almost all of the losses that we've seen in early march.

At the end of last week we've seen price action starting to consolidate and this monday, price action gave us confirmation that a retracement is indeed taking place. This brings with it numerous trading possibilities. The situation is calling for a trend continuation trading setup.

We will be looking for a long around the 52.30 price area with a relatively tight stop and a reward of at least 65-70 ticks. There is always the possibility that we might get stopped out since the market always does what it wants to do. In this case, we can re-enter a long trade around the 51.70-51.90 area which would offer a better reward to risk ratio.

Since the trade-management possibilities of this opportunity are so numerous, we will update this trading idea with recommendations on trade-management and money management once price action unfolds some more and gets closer to our desired entry area.
交易开始
We have entered long (aggressive entry) @52.22 with a market order. Stop 20 ticks, TP at least 80
注释
At this point we recommend trailing your stop a few ticks above break even
交易结束:到达止损
Our trailed stop came in effect as the market fell and stopped us out on break even. If the conditions are favorable, we might re-enter this trade.
CLCrude OilcrudeoillonglightsweetcruLONGlongsetupWTIwticrudeoil

免责声明