Like Clockwork - Tight $1 the other way so far
Updated
Yesterday's Idea was a celebration of getting to the $2 mark or the short we were waiting a week and a half for.
Despite it not making contact with the next Green Vector candle below in the hourly (something that we reaaally wanted) We did get another $0.60 out of the short. (making it a $2.60 short for the partials we left open from over the weekend)
Furthermore we managed to short it twice more for $0.80 each time and catch a very good entry price for a long at 78.8 which we have already closed 50% off for $1. All before Asian session is even done.
When Oil gives you a $2.60 short it means one of 2 things. Either the big short we have all been waiting for has peaked it's head out of the closet and there is more to come when it gets to an Optimum trading zone above that has a Red Vector there.
Or it's a Bear trap like the many before it and Oil is going to probably do at least double the fall or more to get to yet another high.
Whichever one it is, don't be the guy/girl sitting on your hands married to an idea while getting liquidated. Instead be swiftly out of the wrong idea and into the correct one and only hedge if you are close to the end of a move and can actually afford to as there will always be another trade as long as you have a balance still
We will leave some longs (77.8) running to see if resistances are broken and have sell limits at Red Vector candles in the smaller tfs
But have already entered new short scalps at 78.9.Let's see what we wake up to
This is not financial advice and should be taken with a pinch of salt
Despite it not making contact with the next Green Vector candle below in the hourly (something that we reaaally wanted) We did get another $0.60 out of the short. (making it a $2.60 short for the partials we left open from over the weekend)
Furthermore we managed to short it twice more for $0.80 each time and catch a very good entry price for a long at 78.8 which we have already closed 50% off for $1. All before Asian session is even done.
When Oil gives you a $2.60 short it means one of 2 things. Either the big short we have all been waiting for has peaked it's head out of the closet and there is more to come when it gets to an Optimum trading zone above that has a Red Vector there.
Or it's a Bear trap like the many before it and Oil is going to probably do at least double the fall or more to get to yet another high.
Whichever one it is, don't be the guy/girl sitting on your hands married to an idea while getting liquidated. Instead be swiftly out of the wrong idea and into the correct one and only hedge if you are close to the end of a move and can actually afford to as there will always be another trade as long as you have a balance still
We will leave some longs (77.8) running to see if resistances are broken and have sell limits at Red Vector candles in the smaller tfs
But have already entered new short scalps at 78.9.Let's see what we wake up to
This is not financial advice and should be taken with a pinch of salt
Note
When setting short scalps $0.30 TP scalps were the only ones that made it.any aiming for more were sadly stopped out on break even but our longs have given us another $0.80 (80 pips) to 79.5 where we closed 50% of what we had left open from the 77.8 longs and are in short scalps from 79.5 and have already closed 50% for $0.30.
If the Red Vector candle is Fully recovered by Green and we either don't see Blue or see more Purple then the move to the upside will be just a bull trap. But we still hold some longs nonetheless
This is not financial advice and should be taken with a pinch of salt
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.