I'm fairly certain we're seeing an intermediate term top in oil here. I'm short, via a 3% long position in $SCO. (I'm also long 
USDCAD, 
USDMXN, 
USDNOK)
I'm open to going long again, but I think we'll see profit taking a rapid decline next.
Risk a new high, 0.5% exposure and off you go.
Cheers,
Ivan Labrie.
USDCAD, USDMXN, USDNOK)I'm open to going long again, but I think we'll see profit taking a rapid decline next.
Risk a new high, 0.5% exposure and off you go.
Cheers,
Ivan Labrie.
Trade closed manually
Today's action is a failure for bears. I'd reccomend standing aside for now and let the market show its hand next.
Note
Looks to be topping but not too safe to short. I'll still reccomend not trading oil for now.Note
Top WAS in. We had shorted last Thursday but I didn't get to update on time.Trade active
Note
Keep a stop at entry price and close half the position.Note
Note
Top was in...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.