ryan-snk

Crude Oil - Launch Pad

Lång
ryan-snk Uppdaterad   
NYMEX_MINI:QM1!   E-mini lätt råolja terminer
Crude Oil sold off today at first however, traders decisively bid the price back up above the 200 day EMA.
Note: The light blue 50 EMA on this 4hr chart is equivalent to the 200 day EMA

This bullish price action tells me that the 200 day EMA is now the launch pad for traders to take this to the next level up. Most likely that would be the 50 week EMA around $43.25 - Depending on the reaction to this level, I'll sell or hold. Could be a short squeeze coming.

Further, the MACD is crossing right at the zero line which indicates bullish momentum.
Handel aktiv:
Added on the dip today
+1 @ $39.42
Handel aktiv:
-1 @ $40.37

Not sure if I posted it but, I had previously bought 1 contract on 7/21 at around $42 (still holding). My broker however, is showing my cost basis for my current position is still $39.42

This recent day trade for about $500 profit successfully hedged my loss from $42. Now my cost basis for the 1 contract I'm still holding should be roughly $40.50
Trade stängt manuellt:
Sold here.

-1 @ $43.125
Kommentera:
Total profit on this trade with both contracts
$1,237.50
Frånsägelse av ansvar

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