Fading Crude Oil With OPEC Volatility
With OPEC meetings underway, we’ve observed greater than usual volatility in the Crude Oil markets.
Today, we had two opportunities to trade the volatility in Crude, on a more aggressive scale (in conjunction with the RSI candles).
Our first opportunity came as price slammed into our Aggressive Volatility Box, giving us an opportunity to short at ~7:30am PT.
We risked $0.30 in Crude Oil trying to make the same $0.30 for our first target, and $0.63 for our second target. Both T1 and T2 were hit with a fairly stress-free trade.
As we hit our second target, we had an opportunity to reverse our trade in Crude and go long at $58.23 (9:51am PT). Once again, we hit both our T1 and our T2 for a total gain of $700.
In total, over our two trades in Crude, we were able to pull out the following: $300, $630, $250, $450.
We had a total of two trades, for a net P/L of +$1,630.