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Quite a fast morning today!!, looks to be a closing of possibly lots of ticks!! well i just closed my trades for a 24+ ticks, i think this will be it for me today, unless i found a high % trade above 80%.
I only was able to make +34 ticks it has been a great day, to trade for the full time trader.
This week seems to be an interesting one, due to some news but overall the market is playing, the big money has been selling since last week, (check image attached on CFTC), so this could trigger a long trade since they are positioning themselves.
This way i will always be inside the range and this will take me to profits faster.
now this goes in levels, i mean if i get in the trade @ 90.90 my immediate target will be 91.00, and if i see buyers come into the tape i could target 90.10, 90.20, 90.35 and so on.
If there is a plan for you to follow, you only need in CL 20 ticks daily to make around $4000 a month with only one contract!!.
Well i just came in time to my office to trade the Crude Oil Inventories report which came out very positive +5.9M and the forecast was 2.0M, this caused the price to fall, and we took position to the sell side 2 minutes before the release,
why:
1. API data was revised higher for stocks on Crude,
2. Price kept going higher just before the news release (this could be interpreted as big money trying to keep prices high then they can sell and make money in the news all the way down. what we did)
3. 85.69 was a magnet price to the downside.
Well we are done for the day, with +50 ticks in the pocket.
Well what do we have on CL??, first there is a test and a very big clue to be a day that favor long trades, it needs to break 86.30 and test back 86.30 to confirm a upside biased market, here you see the levels.