Short Position (EP) : 65.10 Stop Loss (SL) : 65.60 Take Profit (TP) : 63.30, 62.50
Description CL future formed Double Repo Sell at day time frame. Short position at market price (65.10) when the market open and place stop loss after 0.382 level of Fibonacci Retracement. When the price go down below first agreement (64.45), shift stop loss to Break Even (BE) position (65.10). Until the price reach TP#1 (63.30), close half of the contract opened. Wait until it reach TP#2 (62.50), then close the other half contract opened.
Position Sizing 1 Tick value = +-$1,000 EP to SL = 0.5 Tick value = -500/contract Contract size to open = 2 contracts EP to TP#1 (Close 1 contract) = 1.8 tick value = +$1,800 EP to TP#2 (Close 1 contract) = 3.1 tick value = +$3,100
Expected Result Loss = -$1,000 Gain = +$1,800 + $3,100 = +$4,900 Risk/Reward Ratio = 3.9