Crude oil went in my favor from my previous post. Looks like we are shaping up with an opportunity to go long again at demand below. I've got 2 levels I'm interested in. I think Crude might stay with in the 58.73-53.60 range for the next two weeks. Taking both of these trades with activation orders at the dotted lines, so if news accelerates price below demand I not at risk of a loss.
Entry 1: 54.41 (Activation 54.33)
Stop: 54.13
Target: 56.32
Risk/Reward: 6.8/1
Entry 2: 53.94 (Activation 53.84)
Stop: 53.62
Target: 56.32
Risk/Reward: 7.4/1
Entry 1: 54.41 (Activation 54.33)
Stop: 54.13
Target: 56.32
Risk/Reward: 6.8/1
Entry 2: 53.94 (Activation 53.84)
Stop: 53.62
Target: 56.32
Risk/Reward: 7.4/1