Mid-term breakout strategy CRUDE OIL FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) NYMEX:CL1! travelerjm Well, you know there's a significant trendline starting from 28th May ... I believe it should go down to low-30ish within 3 weeks (till mid Aug) So my trading setup is as follows... Assume the lower trendline breaks on Monday...(7/27) Entry: 40.77 / Quantity : 2 contracts S/L: 41.64 Target: (1) 40.02 / (2) 31.17 P/L ratio: 11 - Entry, S/L can vary depending on price action & price level vs. the lower trendline - Once it reaches the target (1), take-profit half of the initial position, moving S/L to the entry level - If price retested trendline , it would trigger the breakeven stop-loss. In that case will enter the same position again, possibly w/ better price. Triggered by US IT stocks tumbling, there's possibility that near-term global rebalancing should occur..along w/ massive correction of all assets.