CL Redux
- Thread starter schizo
- Start date
Quote from austinp:
Sometime between 10:32am est and the close of trading, CL should offer a +100 cent (or greater) trade. That didn't happen last week... price went dead past the inventory news.
Seeking that trade all the way today, from 10:32am once the ripsaws settle until it unfolds or the session ends. Whichever comes first
1-lot long ahead of news: trailed to +1 cent from entry stop, slipped out at -14 cents from entry into news release.
Long & short four-lots from there, -20 cents per contract / -$800 on top of prior -$140 stop
Short 4-lot from 101.85 > stop 101.35 => out 101.36
**
As planned, as expected, as usual on inventory Wednesday. Price offers at least a 100-cent directional move, sometimes much more. Seeking +50 cents net or greater and mission accomplished for the day
I 1st wanted to short CL since it was in a strong trend down with major damage done to price. I did not go long because I thought the price had gone down to far, but I did go long since it was the right setup to do. My issue is I should have tried for more profit and held the winner longer. However, a win is still a win, but I am moving my account up more slowly than I should be.
That's kind of vague. What time frame? Daily, weekly? Daily charts show us in a bull flag. Or, you can argue we're in a descending channel which is also typically bullish once a breakout is confirmed. Regardless, those are longer time frames and most of us are only in trades intraday.