Crude Oil - Another Short Term Buy Trade - 6/30/2016
Brexit volatility caused make it wobble a little but now crude oil is back near 50. We are proposing pretty similar playbook which gave us good two trades last week.
Most indices have made a huge comeback in last two days with FTSC 100 ( London Stock Market ) covering entire Brexit drop and some more ! What a circus ! But hey, this is the type of market we are dealing with right now ;) This also makes us think about our long gold stance. Still nothing to worry as long as 1300 / 1280 holds. But why let go the profit. So now we are switching from wait and watch until 1400 mode to active trading mode. If price action is shaky then we will pull the cord because there is always next trade.
Without further delay here is the trade set up for crude oil.
Long form two different levels. 49 and 48.50 / 48.40. Please be mindful to treat it as two different trades rather than as a single trade with spread out entry. Month end volatility along with headline risk is always there so being nimble is advisable.
Most indices have made a huge comeback in last two days with FTSC 100 ( London Stock Market ) covering entire Brexit drop and some more ! What a circus ! But hey, this is the type of market we are dealing with right now ;) This also makes us think about our long gold stance. Still nothing to worry as long as 1300 / 1280 holds. But why let go the profit. So now we are switching from wait and watch until 1400 mode to active trading mode. If price action is shaky then we will pull the cord because there is always next trade.
Without further delay here is the trade set up for crude oil.
Long form two different levels. 49 and 48.50 / 48.40. Please be mindful to treat it as two different trades rather than as a single trade with spread out entry. Month end volatility along with headline risk is always there so being nimble is advisable.
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