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Usoilsell

USOIL- SELL strategyNo change in view. I like to note that we are not out of the wood works as yet. We could still move back higher, but for me that is the chance to sell into rally. For now, if existing shorts add to shorts $ 99-101 only. For those new, SELL @ $ 98 and add $ 99-102. Profit order $ 85.75 for now. Just wish to clarify for information purpose and education, as I got one remark from someone. If you have observed my entry end exit levels, you understand I have beefed up my average which is roughly $ 102 now.
TVC:USOILShort
by peterbokma
4
USOIL- SELL strategy The OIL short average is fine around 95.85 now, and I will reduce 25% again at current $ 91.45. The position is now only 50% and we take profit at 88.20. For new positions SELL $ 92-93 and add (for existing shorts only add) $ 95 and 98 for now. I will use stop-loss now at $ 102. Profit order same $ 88.20. In terms of technical side, stochastic is negative and we have nearby DC resistance, and likely this may hold. The situation no doubt is unsure, but the leaders are very concerned, as they should be. Let's monitor it, but for now am a preferred short.
TVC:USOILShort
by peterbokma
USOIL-SELL strategySo far only 25% of position taken back. We went to a low of $ 89 rounded, and bounced back current market $ 92.00. The end result is still a Doji star. The RSI is still high, but daily chart corrected a bit. The stochastic weekly is negative and is at a high level suggesting we will see low in the coming sessions. Of course oil bounced back on Biden statements, and we just have to wait and see what happens. If something drastic happens, market will react upwards. If the situation eases, LONGS will be liquidated again. Let's see the developments. The overall view remains same. expecting correction back towards $ 78-80. Strategy is SELL $ 92-93 and sell further at $ 96-99 and 101 for now, in case we go up first. If not, take profit 25% at $ 88.50 and rest 80.50 now.
TVC:USOILShort
by peterbokma
USOIL- SELL +++Got stop-out at $ 93 and minor discomfort since the short was average $ 91.25. Looking at the chart and also the condition of market, and yes, am aware of reports etc and we all are no doubt, the hype is BUY BUY and BUY.. but the question is in how far is market LONG. On a historical note, OIL can move drastically and as we all remember, we were even in negative terrain as well. So, for now, am RE-SELLING $ 93.75-94.25 again (very small as a note as I always do with more volatile instruments), and SELL agan $ 95.50, $ 97.00 (increase more, i.e. heavier weighing). No stop-loss and profit order at $ 77-78 as before.
TVC:USOILShort
by peterbokma
1
USOIL-SELL strategyI am moving the stop-loss higher, as I am not very worried about the slight move upwards. The reasons are understandable, and as long we got the Ukrain crisis, OIL will be bid up. However, considering the conditions of the market, market is LONG already and is looking for further unlucky LATE BUYERS. For now, I feel we SELL CURRENT $ 88-90 and keep stop-loss at least $ 95 or higher. We may even move it higher later, as I prefer to add small increments on strength. It is very likely to see a return level of $ 72-74 again and that is also our profit objective for now.
TVC:USOILShort
by peterbokma
4