Wager on Crude

Sold 59.81, stop 63, target low 50s

 

This has to happen as the market was facing a face drop this was already predicted

 

That is one hell of a protective stop. I understand the rationale, but we don't grow stops that big where I come from. Good luck.

 

I would not be taking that trade

 

Might as well explain why not.

 

I would say oil has a higher probability of staying around 60 or more over the next few months.

 

Though I don't disagree with you on above, my plan is to play the retracement and then reverse for a long.

 

Roberk, did you notice some sort of recent correlation between USD rise and crude sell off? I see USD resuming uptrend soon, so who knows...

 

Almost perfect mirror image.

 

Thanks for pointing that out