Having recently developed an interest in Commodity Futures I have started the process of selecting paper trading positions to determine if my analysis plays out. Posting online seemed a good way of establishing accountability and follow-through. Crude oil shows clear indications of the up-move being exhausted due to strong bearish divergence on the RSI and completion of the EW count up. As a result I entered a hypothetical trade via a stop order - to enter on a price drop to 74.16 or below - which triggered on the 4th of July (stop-loss placed (rather arbitrarily) at 4% above the entry price. Changes in stop-loss position, targets, exit point, and what the market looks like on the 2nd of October will be published.
I am not relying 100% on TA, more like 70%. Other factors on supply side, such as increases in production, international sanctions, etc appear to align with raw TA in this case.
✅ @flyinkiwi10, I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!
Thank you in advance!
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