July is the new front-month WTI futures contract. And, it has tested a key Daily 38% retracement level ($106.98). Here's the trade:
1) Buy @ $107.01
2) Initial Stop Loss @ $106.89
3) 1:1 Profit Target @ $107.13
Quick, positive price action is the goal here. If $107.00 is washed out to the bear, a rapid exit at $106.89 is advised.
1) Buy @ $107.01
2) Initial Stop Loss @ $106.89
3) 1:1 Profit Target @ $107.13
Quick, positive price action is the goal here. If $107.00 is washed out to the bear, a rapid exit at $106.89 is advised.