Hey folks,
I am looking here on an opportunity of Crude Oil which has been highly volatile over the past week under US-Iran war tension. the price just after the first attack, with panic in the market made the price of Oil intensely spike. which has highly corrected this week and now re-testing the new price range.
As of today Iran published a warning about OIL barrel to reach $200 soon. which in my perspective can be a near case since there is no ease off on the Hormuz strait and with the recent attack on the Thai commercial ship in the strait, it is a clear indication that Strait of Hormuz is still not safe.
Technical analysis - 4hr TF
The price is testing the 78.6% fib level now as a support. also price trailing above 11Ema, though i am tracking 20EMA here, as my SL is significant.
My position -
Crude Oil 17Mar 10000 CE
SL Fut price below 7700
:) thanks, Happy Trading
I am looking here on an opportunity of Crude Oil which has been highly volatile over the past week under US-Iran war tension. the price just after the first attack, with panic in the market made the price of Oil intensely spike. which has highly corrected this week and now re-testing the new price range.
As of today Iran published a warning about OIL barrel to reach $200 soon. which in my perspective can be a near case since there is no ease off on the Hormuz strait and with the recent attack on the Thai commercial ship in the strait, it is a clear indication that Strait of Hormuz is still not safe.
Technical analysis - 4hr TF
The price is testing the 78.6% fib level now as a support. also price trailing above 11Ema, though i am tracking 20EMA here, as my SL is significant.
My position -
Crude Oil 17Mar 10000 CE
SL Fut price below 7700
:) thanks, Happy Trading
Trade closed: target reached
the underlying moved as expected. but I on the other hand slacked off with the theta, got confused with the expiry date of the contract. thus decaying brushed off a good profit on this one. on the 12 and 13 consolidation my SL which i moved to 10% profit book was hit. otherwise my position reached to 75% profit. Important lesson is, Don't let good result blur your focus until the final result.
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Disclaimer
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.