YOLO: OIL LONG
Updated
Despite the title, I take this trade with 100% seriousness. Oil has been heavily oversold in the past days and despite bad fundamental aspects, it has to "rest" before selling off more. Today (11/3/2016) we saw a quite rare phenomenon where a candle opens outside the lower BB and holds. NEVER in the past 2 years has this happened, without a "correction" in the following day(s). Thus I entered a long position at $44.48 with a tp of 45.7x. Still, because of the MACD sell signal sent off yesterday I will not hold this position if all goes bad and will also re-enter a short either way when techical indicators tell me to do so.
Trade active
I will hold until the price reaches the 10d MA on the 4H, unless I sense a short squeeze.Trade closed manually
Oil too bearish, exited $44.34, I will accept my loss and wait for until later on in the next week (after lections)Trade active
Re-opened long: $44.20, keeping previous targetTrade closed: target reached
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