CRUDE OIL LONG from $72.75
This is an area I have been waiting for weeks, and its coming up on this daily chart of Crude Oil futures.
I have highlighted the last to times price has aproached this trendline, expect to base for a bit, use an indication that turns positive and make your move.
The whole structure is in a very large triangle. I can tell you there is a fair value gap as well at in the entry target as the will get filled.
Target is to the top the triangle potentially this trade can last weeks.
I have highlighted the last to times price has aproached this trendline, expect to base for a bit, use an indication that turns positive and make your move.
The whole structure is in a very large triangle. I can tell you there is a fair value gap as well at in the entry target as the will get filled.
Target is to the top the triangle potentially this trade can last weeks.
Transaction en cours:
At 6 AM EST - trade was executed $72.53. When I got granular this was the spot.
At the NY Open the point of control was about at 72.75 however in the afternoon they were able migrate value up to $73.36 - this gives the trade the bit of room however I noticed there is a small gap at $72.59 - there are no mistakes. No doubt working from the trendline will require patience. If price returns to $72.59 I will buy it. There was pretty big divergence where people lined up at $74.13 buying Crude this is yesterdays point of control. They will want to tap that liquidity at some point.
The ten day point of control is at $78.88 and there is lots of liquidity there too perhaps a sensible place to close the trade.
Most importantly with fairly violent move down - the trendline held.
At the NY Open the point of control was about at 72.75 however in the afternoon they were able migrate value up to $73.36 - this gives the trade the bit of room however I noticed there is a small gap at $72.59 - there are no mistakes. No doubt working from the trendline will require patience. If price returns to $72.59 I will buy it. There was pretty big divergence where people lined up at $74.13 buying Crude this is yesterdays point of control. They will want to tap that liquidity at some point.
The ten day point of control is at $78.88 and there is lots of liquidity there too perhaps a sensible place to close the trade.
Most importantly with fairly violent move down - the trendline held.