$CVX Short setup
Entry: 2.242
Stop level: 2.3245
Target: 2.077
I've had CVX on the radar since the 13% drop began about 2 days ago. I marked 2.255 as the inducement once the low broke; the bounce into it was about 30% of the leg. The market came down for 2.255, cleared the stops sitting above and the 1h candle shut back under it straight away. Stop goes over at 2.3245. Target is the fresh low at 2.077, double the distance I'm risking.
Entry: 2.242
Stop level: 2.3245
Target: 2.077
I've had CVX on the radar since the 13% drop began about 2 days ago. I marked 2.255 as the inducement once the low broke; the bounce into it was about 30% of the leg. The market came down for 2.255, cleared the stops sitting above and the 1h candle shut back under it straight away. Stop goes over at 2.3245. Target is the fresh low at 2.077, double the distance I'm risking.
