$LBRT Liberty Oilfield Making Bull Run with $USOIL: Exit-points?
Well, FIB retracements were shattered to pieces with the BULL RUN $USOIL experienced on Monday's market open.
The only thing that makes any sort of sense here is to target a relative previous high as a potential early exit point. Of course, LBRT's high upside looms higher than this focus at 9.81, but there's already a sizeable profit on the entry point for this trader (sub-8.1), so a little caution must be exercised until we see $USOIL itself spike 43/b with little resistance-- That has not happened in "COVID SZN," and while it appears closer to reality, it's still not here.
So, PROFIT- SNATCH at the Checkmark, but Stay 1/2 position for the later secondary run that still could loom. Hedging as it is.
Happy trading - and this isn't advice; it is simply my THOUGHTS, and what my IDEAS, are leading me to do with all my positions ;)
Which is advice, for me, and you if you choose - but we're only calling it IDEAS, ya feel?
-BDR
Post note: See related idea on $USOIL for the precursor to this IDEA!
The only thing that makes any sort of sense here is to target a relative previous high as a potential early exit point. Of course, LBRT's high upside looms higher than this focus at 9.81, but there's already a sizeable profit on the entry point for this trader (sub-8.1), so a little caution must be exercised until we see $USOIL itself spike 43/b with little resistance-- That has not happened in "COVID SZN," and while it appears closer to reality, it's still not here.
So, PROFIT- SNATCH at the Checkmark, but Stay 1/2 position for the later secondary run that still could loom. Hedging as it is.
Happy trading - and this isn't advice; it is simply my THOUGHTS, and what my IDEAS, are leading me to do with all my positions ;)
Which is advice, for me, and you if you choose - but we're only calling it IDEAS, ya feel?
-BDR
Post note: See related idea on $USOIL for the precursor to this IDEA!
Comment:
Snatched 1/3rd of position for profit @ 9.32 ; $USOIL is stalling out & momentum is slowing. 9.4 is a relative resistance mark here that is being watched for some speed surpassing it; so far, only resistance.
Comment:
Double-dipped the cone w/ a re-touch of 9.3. That 9.4+ zone won't be realized today. Still hanging to a 1/3rd position held from the 8.1 avg cost entry. No harm there.
