Buying Dec Crude
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Started by joj - Nov. 7, 2022, 11:54 a.m.

I don't trade oil but...

The chart looks strong on the daily.

Kind of a bet on a Red Wave in the midterms.  GOP friendly to oil.

If it goes my way I'd sell in on Wednesday (buy the rumor, sell the fact).

Bought a 1 lot Dec crude 93.15 

Risking 3$

Comments
By metmike - Nov. 7, 2022, 12:03 p.m.
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Thanks joj!

This is a great trading contribution. 

I have a lot to add to this thread but our internet is messed up and it took me 2 hours to make 5 posts today. 

Spectrum is supposed to be here in an hour to figure out what the connectivity issue is.


Previous comprehensive crude thread:

https://www.marketforum.com/forum/topic/89824/

By 7475 - Nov. 7, 2022, 1:16 p.m.
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For some of those same reasons I just bought the Loonie at 7407.0 and risking 20 pts.

 I'll hold thru tomorrow and maybe a bit further if it's panning out.

 Now then, the daily shows a H & S with left shoulder at start of September and the right just completed  Friday,

and just broke the neck - let's see if there is carry thru.

  John

   PS - I'm using a USD/CAD chart

By joj - Nov. 7, 2022, 7:20 p.m.
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I had a brain cramp there.

A GOP win should make S&Ps go higher and crude go lower (not higher).

I pitched the trade for a buck loser.

By metmike - Nov. 8, 2022, 9:24 a.m.
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Thanks for sharing and your honesty, joj!