Short-term play: Short USO opened con Thursday Sept 3 @avg. Entry Price 15.31.
Rationale:
- Short-covering rally that lost steam at the 50-day MA (Not pictured, around 48.75$ WTI).
- Nothing changed on the fundamentals during the rally... Save for some OPEC comments about getting "fair prices" for Crude Oil. Nothing onof substance still, though
- Shooting star on 4hr candle (where I decided to short). This week it's also opening AND trading below swing MA(9). RSI (14) I'm 4hr went over 70 and now it's back to the channel.
- 2 Lower highs during the week after the apex of the short squeeze
- Targets and stops like shown. Timeframe should not exceed the week ending Sept 11th.
- If the setup respects the bearish trend, I will be moving down the stop dalily, a few ticks above the last day's high.
Rationale:
- Short-covering rally that lost steam at the 50-day MA (Not pictured, around 48.75$ WTI).
- Nothing changed on the fundamentals during the rally... Save for some OPEC comments about getting "fair prices" for Crude Oil. Nothing onof substance still, though
- Shooting star on 4hr candle (where I decided to short). This week it's also opening AND trading below swing MA(9). RSI (14) I'm 4hr went over 70 and now it's back to the channel.
- 2 Lower highs during the week after the apex of the short squeeze
- Targets and stops like shown. Timeframe should not exceed the week ending Sept 11th.
- If the setup respects the bearish trend, I will be moving down the stop dalily, a few ticks above the last day's high.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.