My previous idea on Crude Oil is a long. I was positioned so, and I was stopped out. Whatever happened on Friday has caused me to activate my alternate count (which was actually the primary count for my earlier ideas) and that means that I am currently positioned short. And if I am right, CL is going to fall massively on not only a 3rd wave, but a breakdown of a trendline. Of course, this idea is in-line with the change in my idea that equity markets are going down.
But note this: price is near a trendline. And on very short-term at least, risk management actually favors the long side (since the stop will be close by). Note this: I won't always be right, but I got skin in the game. If I am wrong, I lose money too.
But note this: price is near a trendline. And on very short-term at least, risk management actually favors the long side (since the stop will be close by). Note this: I won't always be right, but I got skin in the game. If I am wrong, I lose money too.
