We’ve been telegraphing the potential for signals in Crude Oil for a while now, and following a quick reversal and exit from the last long entry we received, we now have another one, which we’ve entered at tonight’s open.
This time the signal came with an assist from the political turmoil unfolding in Egypt. That unrest certainly needs to enter our risk/reward parameters, but it doesn’t change anything about the mechanics of this trade – it really is just another trade.
Long Crude Oil ($CL_F) 7/5 +$0.00 per contract
Our existing positions are as follows:-
Short S&P 500 ($ES_F) 6/21 -$1,287.50 per contract
Short NASDAQ ($NQ_F) 6/21 -$1,125.00 per contract
Short 30yr ($ZB_F) 5/13 +$8,281.25 per contract
Short 10yr ($ZN_F) 5/13 +$4,734.375 per contract
Short Gold ($GC_F) 4/5 +$30,240.00 per contract