• 401 days Will The ECB Continue To Hike Rates?
  • 401 days Forbes: Aramco Remains Largest Company In The Middle East
  • 403 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 803 days Could Crypto Overtake Traditional Investment?
  • 807 days Americans Still Quitting Jobs At Record Pace
  • 809 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 812 days Is The Dollar Too Strong?
  • 813 days Big Tech Disappoints Investors on Earnings Calls
  • 814 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 815 days China Is Quietly Trying To Distance Itself From Russia
  • 816 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 820 days Crypto Investors Won Big In 2021
  • 820 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 821 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 823 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 823 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 827 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 827 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 827 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 830 days Are NFTs About To Take Over Gaming?
Joseph Russo

Joseph Russo

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating…

Contact Author

  1. Home
  2. Markets
  3. Other

A Sudden Collapse in Crude Oil

Sinking Crude Oil

How did our Chart-Cast Pilot subscribers fare amid Friday's collapse in Crude? To answer this we must first go back to our short-term position in the days just prior to Friday's wicked plunge. Firstly, we had been long Oil since the end of April from a price of 103.54. As of Wednesday May 2, we had open profits accruing to the tune of around $1800 dollars per contract on long positions.

Upon Wednesday's 106.43 pivot high failing to reach our 107 price-target, we illustrated boundary to a 1 ½ -pt sell trigger, which similar to the 107 target, was a technical setup that we provide for ancillary benefit outside the purview of our automated trading strategy.

Secondly, on Thursday May 3, our subscribers received a bearish email alert that confirmed, and we booked $1240 dollars in profit on long positions and reversed short at 104.78 on cue from our proprietary trading strategies algorithms.

As an aside, the ancillary sell trigger citing 1 ½ points of downside captured its target easily amidst trade beneath its 103.65 downside projection.

Note that from $1830 the day prior, that our daily equity has now risen to $3,552 dollars per contract. Furthermore, our month-to-date equity is also to the plus column with a reading north of $2,312 dollars per contract traded.

Last, we will close out with Friday's chart, which illustrates a quintessential all-at-once waterfall decline from which; our strategy was in perfect position to take full advantage.

All told by Friday's close, our short positions taken just one day prior, carry open profits of $6,100 dollars per contract traded.

So how are our Chart-Cast Pilot subscribers faring in the rest of the broad markets? See for yourself:

We suspect the spreadsheet above speaks for itself. How are you faring with your efforts and strategy's?

In closing, we leave you with a parting visual of enduring wisdom, which are our motto and our creed.

How do you ride a bear?
Yes, it is that simple!

Until Next Time,

 

Back to homepage

Leave a comment

Leave a comment