Looks like $ET is somewhere to complete the correction. At this point of time, I see a future opportunity to trade the pullback.
Gradual periodical long entries is a solution to the circumstance as price deepens into light blue area.
A more safe entry would be on a condition where price action forms double bottom pattern to ensure that bears are off the market just like in red circled area.
In green area I'd double the lot and that would be the worst case condition that might happen.
Always check $CL1! for correlation to be sure about a particular market execution when dealing with oil companies.
Gradual periodical long entries is a solution to the circumstance as price deepens into light blue area.
A more safe entry would be on a condition where price action forms double bottom pattern to ensure that bears are off the market just like in red circled area.
In green area I'd double the lot and that would be the worst case condition that might happen.
Always check $CL1! for correlation to be sure about a particular market execution when dealing with oil companies.
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