Adding to oil shorts
I expect the above bear motive count to have effected (15-min chart above). - a local H&S is building up in 3iv
I am planning to improve my short portfolio as follows:-In case there is a spike in prices (wave-4)
Sll 10k @ 38.80
Sell 10k @ $39.30
Sell 10k @ $39.60
In case there is a spike in prices (wave-4)
Sell 10k @ 40.30
Sell 10k @ 40.50
Already holding 0.8 contract short averaging $37.52.
If above positions fill, size increases to 1.3 / standard contract, averaging $39.
Risk at $41 becomes -$2600 = -26% on a $10,000 account. Target same @ $35.60 (1.382 of above motive wave) / @ $34.80 (1.618 of above motive wave)
Take care & Stay Safe
I am planning to improve my short portfolio as follows:-In case there is a spike in prices (wave-4)
Sll 10k @ 38.80
Sell 10k @ $39.30
Sell 10k @ $39.60
In case there is a spike in prices (wave-4)
Sell 10k @ 40.30
Sell 10k @ 40.50
Already holding 0.8 contract short averaging $37.52.
If above positions fill, size increases to 1.3 / standard contract, averaging $39.
Risk at $41 becomes -$2600 = -26% on a $10,000 account. Target same @ $35.60 (1.382 of above motive wave) / @ $34.80 (1.618 of above motive wave)
Take care & Stay Safe
Trade active
shorts at $38.80 & $39.30 filled Position average raised to $37.826 for a 1 complete standard contract
Tps remain the same $35.60/$34.80. Risk calculations same.
keep remaining sell limit orders in place, but amend 10k @ $40.50 to become $40.40
Take Care & Stay Safe
Trade active
Holding 1 standard contract short averaging $37.826Add Short Limits as follows
10k@ 39.90
10k@ 39.80
10k@ 39.70
10k@ 39.60
If filled position average becomes $38.37 for 1.4 standard contract- Risk at $40 is -23% (-$2300). Risk @ 440.50 = -30% (-$2982)
Target same @ $32.50
Take care & stay safe.
Trade active
<$39.60-$39.80> filled, to a contract size = 1.3 averaging $38.25Remove 10k short entry @ $39.90
Risk assessment remains as outlined above. Target remains @ $32.50
Correction:-
"440.50" above should read "40.50" Sorry for the Typo
Take care & Stay Safe
Trade active
The position has reached risk @ $40.50 = -30% for 1.3 contract size on a $10,000 account. So I will work to assimilate half the risk.Place Tp for short holdings $39.60-$39.70-$39.80 @ $39.20
Place Tp for 1 x 10k short acquired at $37.826 also at $39.20
$39.20 is y'day's low, and the lower 1HR BB.
If filled contract size gets reduced to 0.9 at 37.826 average.
Risk @ $40 becomes -$1962 = ~20% on 10,000 account
Targets for 0.9 contract remains the same @ $32.50
Take Care & Stay Safe.
Trade active
There is a Bear Motive on the 1HR chart now doing a wave-3Remove TPs @ $39.20
Holding 1.3 contract shorts averaging $37.826 targeting $32.50
Add Short limits @
10k @ $40.10
10k @ $39.90
All to same target $32.50
Take care & Stay Safe
Trade active
10k @ $39.90 filled to an overall average $37.97 for 1.4 contract size.take the 10k @ $40.10 limit short down to $39.25
TP for all remains @ $32.50
Take Care & Stay Safe.
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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.