LUV: Great accumulation at key level
$LUV is showing a great accumulation pattern, right above an older 'Key earnings support' level.
We can long at market open risking a drop to 35.40, and aiming for a retest of 39.97 in the intermediate term.
This is a good way of leveraging a potential retracement in crude oil to be seen soon, possibly after the next OPEC meeting shows leaders fail to reach an agreement, or if they simply 'freeze' production at record levels (which is the same as sitting on their hands, and maintaining the status quo).
Feel free to comment. Also, if interested in learning more about my private tuition and/or trading signals service, message me privately.
Good luck,
Ivan Labrie.
We can long at market open risking a drop to 35.40, and aiming for a retest of 39.97 in the intermediate term.
This is a good way of leveraging a potential retracement in crude oil to be seen soon, possibly after the next OPEC meeting shows leaders fail to reach an agreement, or if they simply 'freeze' production at record levels (which is the same as sitting on their hands, and maintaining the status quo).
Feel free to comment. Also, if interested in learning more about my private tuition and/or trading signals service, message me privately.
Good luck,
Ivan Labrie.
Comment:
Looks safe.
Comment:
1.08R profit here. Hold this one, looks really solid. You can close half before Yellen, or move stops up to entry price.
Comment:
Closed half of LUV @ 38.64
Trade closed manually
Comment:
We can get back in on dips here.
Comment:
Nice move.
Trade closed: target reached
