CL Trades 12/10 (Thurs) - Stopped, Stopped, Bingo

Total: + USD 208

CL 200-Ticks

I can't help it. $70 is a bargain - for now at least.

I've used rather tight stops for the first 2 entries (red arrows). After all, price hasn't broken beneath a bear channel that started at the most recent peak (71.20), and so I wasn't sure...

3rd Shot (Blue Arrow)
70.44 was the upper range of a zone support, and also where price had hit a bear wolfe target (an overshoot in fact). Most importantly, price has overshot the black bull channel (I love overshoots), and I was betting on price to bounce off 70.44 on a strong bull reversal.

Stop was at 70.39, and subsequently moved to 70.71. No breakeven stop for this trade.

Target was wherever price hit the bottom of the pink wedge (connecting point 1 to 4 of the wedge is the thick pink trendline along which lies the target for a wolfe setup short from 71.20).

I'll stop for the day. Taking a break before I start losing perspective.