Oil Market doing extended -3
The market is doing an extended wave -3 - probably to fill the gap on charts to $40-$42
Always buy the small support ledge that forms between <38.2%-61.8%> pending every minor motive wave that extends on the 1hr chart (can be Elliot detailed on the 15 min)
Accumulate to close all at $40
Currently compile 1/2 contract longs at:-
10k $36.10
10k $36.05
10k $36.00
10k $35.95
10k $35.90
10k $35.85
SL / Hedge at $ 34.50 (-$1.5 away on average). TP @ ($4 on average)
Take Care & Stay Safe.
Always buy the small support ledge that forms between <38.2%-61.8%> pending every minor motive wave that extends on the 1hr chart (can be Elliot detailed on the 15 min)
Accumulate to close all at $40
Currently compile 1/2 contract longs at:-
10k $36.10
10k $36.05
10k $36.00
10k $35.95
10k $35.90
10k $35.85
SL / Hedge at $ 34.50 (-$1.5 away on average). TP @ ($4 on average)
Take Care & Stay Safe.
Note
all filled at $ 35.98 average.Bring TP down to $38.50
Note
Take SL to break entry + comm (on average ~ $36.04)Add 1/2 contract longs to following accumulation
10k @ $36.90
10k@ $36.80
10k @ 36.70
10k @ 36.65
10k @ 36.60
Target for all holdings $38.95
Take Care & Stay Safe
Note
SL hit on longs averaging $35.98 at break even + commlimit longs between <$36.9-->$36.6> filled to an average $ 36.73
Close all longs @ market - Currently at $ 36.75 = break even or small minimal loss on commissions.
It seems that the max swing to take profits on intra-week is between $1.5-$2.0, higher targets ($40 would be monthly, & require taking more risk on the position
Will stand down for better levels to long short in current correction.
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.