Click on Chart to Enlarge |
Crude Oil Report courtesy of Investing.com |
- BUY at >51.41: Risk $19.50, Reward $80.50 (1 contract)
- SELL at >50.41: Risk $20, Reward $80
(1 contract)
At 10:30 the reports missed estimates badly, and the crude oil market dove. The first move was to exit out of the BUY order for an $18.00 loss. The SELL looked good until the market retraced upwards almost 50 percent. This is quite common with crude oil. It reacts sharply, then retraces about 50 percent. Once the market continued its downward path, another order was placed at 10:45:
- SELL at >50.81: Risk $76.50, Reward $23.50 (5 contracts)
- BUY at >51.41 (1 contract) $18.90 net loss (after exchange fees were deducted)
- SELL at >50.41 (1 contract) $78.20 net profit (after exchange fees were deducted)
- SELL at >50.81 (5 contracts) $108.50 net profit (after exchange fees were deducted)
- Total Profit after exchange fees: $167.80
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