Trade Management: Risk Reduction Before the Weekend

Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

Trading positions

Henry Hub Natural Gas No new position justified from the risk/reward point of view.
RBOB Gasoline No new position justified from the risk/reward point of view.
WTI Crude Oil [CLZ2022] Long around the 84.02-85.93 area (yellow band) with stop at 81.30 and targets at 91.63, 96.78 & 99.74.
Brent Crude Oil No new position justified from the risk/reward point of view.

Regarding risk management, it is always best to define your strategy according to your own risk profile. For some guidance on trade management, read one of my articles on that topic.

For some guidance on risk management in a more dynamic dimension while managing multiple contracts, I invite you to read an article I wrote on how to spread risk for a trade.

Nov. 8 – WTI Crude Oil (CLZ22) Futures (December contract, daily chart)

TODAY (Nov. 11) – WTI Crude Oil (CLZ22) Futures (December contract, daily chart)

So, no need to comment much today as the charts will just speak for themselves – Pretty good entry triggered this week on the NYMEX WTI crude oil, Dec’22 contract, and perfect rebound onto the support zone (yellow band).

As the first target is getting in sight, I would advocate for locking some profits by lifting the stop for one or two contracts up to $ 88.67 and if you want to give more breath to your (for example) third position, the remaining stop could now be placed above breakeven to secure this trade entirely (if not already done by following my risk guidelines below the Trading Positions).