OIL - The Range Rider

We have a swing today in oil.

Yesterday and the day before yesterday we had a Bollinger Band crash signal just like on the 7th of August.
The chance is high that for a few days we are going higher and maybe can tag the upper line of the range.

Watch the RSI and the Stoch RSI for exiting this trade. When we get overbought I will exit the trade. ( Both are turning up from overbought territory)

I still don't think we are ready for a big trending move but if we can make 7-8$ on this trade with a stop below yesterday's low : it's worth trying.

The gap close worked beautifully last week; while many expensive newsletter writer was calling for a big move up here on Tradingview.com you did the right trade with me for free.

Watch again the RSI

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We just need to break out of the consolidation and the party is starting

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Follow through day.

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As slow as it can get...
Energy is frustrating for months now.
Honor stops.

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We are close to halfway in this trip. Just in case if something happens I’m closing 50% of the position at this bounce.
Stop is moved to break even at 53.12.

ปิดการเทรด ด้วยตนเอง:

50% closed at 55.86$.
Stop moved to 53.12$ for the other 50%.
Playing with the house’s money.

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Holding the position 50% .
I might not wait for the top of the range . Most probably I will close the rest of the position when we break the previous high at 57. Too slow and volatile for me .

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ปิดการเทรด ด้วยตนเอง:

50% closed at 57.14$.

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RSI got overbought on the daily and I still find this rally too slow.
We are in the profit with this 50% too.