ð#Commodities ð $CL1! / USD ð
NYMEX:CL1!
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ðļ Signal Info: Light Crude Oil Futures
Exchange: NYMEX
Direction: Short
ðļAnalysis: The price on oil is experiencing historical levels of volatility. What we are looking at here is a 30 minute chart with a fib scale drawing across the daily high and low. From $22.58 at the open down to 6.50 at the low.
The price spent less than 5 minutes down at that level before bouncing back up the the inner channel, and finding support at the 0.382 fib level.
We are going to attempt a short position at the confluence with the falling channel and the 0.5fib line.
The opportunities for gains and losses here are absolutely massive. This is however ultra levels of risk, and these positions should get monitored very closely. Even a 1% stop loss could be an excessive when trading at x50 or x100 leverage. Be careful and watch for confirmations and trends on the lower time frames.
ðļCurrent Price: $13.12
âŽïļShort Entry: $14.95
ðŊTake Profit: $13.11, $11.56
âĶïļStop Limit: N/A
Exchange: NYMEX
Direction: Short
ðļAnalysis: The price on oil is experiencing historical levels of volatility. What we are looking at here is a 30 minute chart with a fib scale drawing across the daily high and low. From $22.58 at the open down to 6.50 at the low.
The price spent less than 5 minutes down at that level before bouncing back up the the inner channel, and finding support at the 0.382 fib level.
We are going to attempt a short position at the confluence with the falling channel and the 0.5fib line.
The opportunities for gains and losses here are absolutely massive. This is however ultra levels of risk, and these positions should get monitored very closely. Even a 1% stop loss could be an excessive when trading at x50 or x100 leverage. Be careful and watch for confirmations and trends on the lower time frames.
ðļCurrent Price: $13.12
âŽïļShort Entry: $14.95
ðŊTake Profit: $13.11, $11.56
âĶïļStop Limit: N/A