Gentleman's OXY?

Got FOMO'ed in b/c WEB kept buying? Take measure to protect yourself from a potential drop in the short term:

It started with negative divergence in March, noticing that volume did not follow through after the breakout, it might end up with a H&S formation that project to the low 40's (blue lines).
That region happens to coincide with:
- the yellow trendline with multiple tops in the past, which can now function as support;
- an interesting retracement level;
- a volume profile wedge.

This is a short term set up based on technical, invalidation above 70.

With the intention to (partially) take over, it makes sens for a whale to keep buying regardless whether price goes up or down.
Assess your own situation as it might differ.

Trade geschlossen: Stop wurde erreicht:

first attempt stopped out, see new published idea for the second short attempt.