Oil futures: Drop incoming, any minute now
Updated
I'm monitoring the oil futures to take a daily short position, to complement my monthly short (see related ideas).
Today I shorted oil, using a stop loss at June's monthly close. You can enter here right away, and add once the daily signal triggers. I'll update the publication once that happens.
There's a time at mode uptrend on chart, and time expires on the 19th. The target has been exceeded and we're approaching a low volume resistance level, plus RgMov indicates this is a downtrend, and that we can short once we spot weakness in oil's price action, specially now, since CCI has hit overbought levels.
- Go short oil futures, CFDs, ETFs (like OIL), at market, and use a stop loss at June's monthly closing price.
Risk 0.5-1%. Not more. We will add once the daily signal triggers.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Today I shorted oil, using a stop loss at June's monthly close. You can enter here right away, and add once the daily signal triggers. I'll update the publication once that happens.
There's a time at mode uptrend on chart, and time expires on the 19th. The target has been exceeded and we're approaching a low volume resistance level, plus RgMov indicates this is a downtrend, and that we can short once we spot weakness in oil's price action, specially now, since CCI has hit overbought levels.
- Go short oil futures, CFDs, ETFs (like OIL), at market, and use a stop loss at June's monthly closing price.
Risk 0.5-1%. Not more. We will add once the daily signal triggers.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Note
To short oil we'll need a new daily low, for the time being the monthly short is in danger, but not stopped out.Note
Today's action is good. We'll go short on monday, if we plot a new daily low. Stop loss will be above today's high + 1 tick. Wait for today's close to act.Trade active
We got short as described, on a break of Friday's low, stop 1 tick above Friday's high. Solid move so far. Holding for downside.Note
Covered half before the futures rollover, got back in after the rally with the remaining half. Let's see how it goes.Note
Amazing drop. It's clear the uptrend is toast here.
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