Short term Oil Idea(20%, 2-3 days)
Updated
Fundamentals: Major squeeze of longs in USOIL resulted in -13%. We have sees major interventions in oil markets as Donald Trump is determined to save as many oil companies as he can.(Look at older ideas).
TA: In my opinion, we will see profit taking in these levels. (RSI oversold, smaller volumes, touch on the bollinger Band) but investors should have a Stop Loss order as negative prices may be on the books again.
Game plan: 20% of idle cash, SL@8.5. Risk/Reward2 as always. Closely monitor the price in order to find better opportunities.
Note: DO NOT invest more than 20% of your idle cash as oil is very volatile this period and we currently view once-in-a-lifetime moments in the history of the commodity.
TA: In my opinion, we will see profit taking in these levels. (RSI oversold, smaller volumes, touch on the bollinger Band) but investors should have a Stop Loss order as negative prices may be on the books again.
Game plan: 20% of idle cash, SL@8.5. Risk/Reward2 as always. Closely monitor the price in order to find better opportunities.
Note: DO NOT invest more than 20% of your idle cash as oil is very volatile this period and we currently view once-in-a-lifetime moments in the history of the commodity.
Trade closed: target reached
TP@16.59 . What a fantastic trade!
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