Target 95.25
Stop 101.50
Just shorted CL and its more of a gut feeling trade. The daily chart is bearish, while the hourly chart has a bullish setup. CL broke above the hourly wedge, but then fell back in again. I have a feeling a lot of bulls are going to get suckered into buying right now on a false breakout. I have set exit to 95.25 for now, but will re-adjust it later.
Exited BAY 34 AUG Call @ 1.30 for .14 profit.
I entered that trade last week for an after-hours earning announcement pop, which never happened. Since then, I've been looking for an exit opportunity to close out with break-even or profit and got a chance today.
Open trades:
CL Short 99.59 Target 95.25 (will re-adjust later) Stop 101.5
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