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GC short. Asian traders extended the down move which started after fed news 2 pm eastern time yesterday. Now, lets see what Euro traders do.
Had to put in Night Shift.
" CL been a dud. I have been shorting every time it gets around 93.40, will cover some around 93.12 and instead of going down , it will come back up. Still holding shorts but reduced size."
Held shorts all day yesterday from 93.40 area, not sure why CL did not break 92 yesterday, cover some 93.04. No longs for me, just shorts. Time to catch some sleep.
Business plan calls for 3 successful trading days and 2 scratches. Looks like CL will make this a scratch day after gains from TF, GC on the day. Trying to manage the CL trade at this point and waiting for reversion to the mean.
A pullback off 40-60 ticks will make it whole and then some. How about if CL keeps running , then it will be a scratch day. Thus with worst case scenario with CL - that from average short price of 93.80, CL runs another 150 ticks and i do not do any thing in between like scaling in/out- day will be a scratch.
That's the ONLY way to trade that with a worst case scenario- a scratch day. That's the benefit of trading way under capacity and keeping lot of Powder dry because we all get surprises here and there. Without SURPRISES trading will not be FUN.