The CL did as I had mentioned in the pre session, failed to get back to value so failed A down and for me longs the rest of the day. I know others were playing the short side but on a rotational day we can all make money.
I mentioned looking for 103s but it could never quite get there. R2 kept holding though I tried a couple of times to get long on pullbacks in hopes of a push thru and then much higher prices. Wasn't meant to be today.
CL Trades
Trade 1 102.22 Long. Others got long well before me and that worked out great. I was conscerned about y'day high and today's opening print keeping price from moving higher so i wanted to see a bar close above to confirm this for me. Exited on the big 5m volume bar
Trade 2 102.47 Long. Price had pulled back and though we hadn't solidly made an A up day I took this hoping to bust thru R2 and confirm an A up. didn't happen so I exited soon after the high volume bar when no follow thu higher appeared.
Trade 3 102.51 Long. Third time is a charm, right? Not today. Same story again. Exited when a 5m high volume bar appeared and we got no follow thru.
NQ like Balanar I look for other markets so that if one market is not producing, the other possibly will. NQ offered the possibility of speed and space as mentioned premarket and it did not disappoint. Why did I short the open? The NQ had traded in value all night and just after the news release price tried to push above value only to be rejected and close the 30m candle prior to the opening print bearish, just under VAH. A really good clue that enough bearish sentiment could lead to a move lower.
NQ played out just as CL did. A push and then two smaller pushes that failed to get as much follow thru.
Trade 1 3737.75 Short. As mentioned above. Short at the open. Actually got positive slippage for once. It happens once in a blue moon. Exited on the big 5m volume spike down
Trade 2 3707.50 short. Hoping to get some follow thru down which was supported by the big candles. Price couldn't get thru the S2 weekly pivot area. Exited again on the 5m volume spike area
Trade 3 3696.00 Short. Same thing. Pullback hoping to push price down and make a move lower towards the naked POC on below. Wasn't meant to be. Exited on the 5m higher volume bar.
A great day and a great week. Everyone enjoy their weekend! I still owe my wife that trip to the mall for watching prices for me from Sunday night into Monday, so you will know where to find me :crazy_pilot: