WTI scalp Short triggered: US Crude Oil down
Updated
Have been heavily short for a while now.
Looking to add more shorts on bounces as I think it will drop more.
My entry points are based on Fib Calculations and Confluences thereof.
This entry triggered by this plan:
My shorts first started with this plan:
Looking to add more shorts on bounces as I think it will drop more.
My entry points are based on Fib Calculations and Confluences thereof.
This entry triggered by this plan:
My shorts first started with this plan:
Note
Moving Stop to break even. I don't like this.Further analysis of the upmove tells me it might reach for the next band above.
It overshot the 1.618, stopped at the 2.618, but the drop was not impulsive, just profit taking
Trade closed manually
Here is why I closed this trade with Tiny profit, explained on chart.Note
Hmm, maybe I chickened out too soon per apparent drop below due to inventory news.BUT, my trade was not up by a safe amount to go into the news. So whether it drops more or goes up like I expected, I would close that trade everytime to preserve Risk/Reward in the face of news....
Note
WTI seems to have gotten a boost from the inventory news.At this time, I am watching for these possibilities.
Note
As mentioned in earlier update, I closed the last position with tiny profit, and was watching the next zone. I have now sold again, per my coverage in this Idea Note
Latest development. See chart explanation.Looks like 65.54/56 to be tested from underneath.
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