Channel Gap Fill
Updated
CL trending in this channel for a year and a half. Gap down on earnings didn't change fundamentals of the co. I expect that the gap would be filled. Taking long call postion today for 20May22. $78 strike. Entry price $1.35. Will target top of the gap for exit. Or if momentum fails.
Trade closed: stop reached
Closed out with small loss next day. Pushed to the middle of the gap on 16 May , but failed to fill. Collapsed on the 18th with everything else.
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