Crude Oil - Seasonal Opportunity, Contrarian Trade
Looks oversold, public is bearish...
Historical data shows that the august-september was bullish period for Crude Oil.
Going hunting for contrarian trade around the previous daily low 42.01.
Monitoring original positioning with 30 min. tf. at liquidity events.
Target: $48-51 range .382 fib. retrace, IOB accumulation breakout level, possible retest of MA 200 line in the sand, critical resistance zone from an Ichimoku perspective.
Orders: 20x leverage long:
1: limit 42.50, stop 41.70, close 50.70
2: limit 42.15, stop 41.45, close 49.50
3: limit 41.75, stop 41.05, close 48.80
Historical data shows that the august-september was bullish period for Crude Oil.
Going hunting for contrarian trade around the previous daily low 42.01.
Monitoring original positioning with 30 min. tf. at liquidity events.
Target: $48-51 range .382 fib. retrace, IOB accumulation breakout level, possible retest of MA 200 line in the sand, critical resistance zone from an Ichimoku perspective.
Orders: 20x leverage long:
1: limit 42.50, stop 41.70, close 50.70
2: limit 42.15, stop 41.45, close 49.50
3: limit 41.75, stop 41.05, close 48.80