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On a new trading server in Chicago. Getting everything setup for next week. I enjoy setting up new computers. This one feels faster from the standpoint of responsiveness through Remote Desktop. I will know for sure on Monday.
From a upload / download perspective it is way faster than the last one I was on. Speed test is below.
Heading toward a triple top. Above that there is a resistance zone up to 102. Then finally a upper trend line between 103 and 104. Should be a interesting week.
Last night CL touched the trend line and reversed. The hourly and 15 minute charts are in a well defined downtrend with a accelerated drop off over the last couple of hours. The hourly broke through the first trend line overnight and is nearing the second trend line. If it breaks the secondary trend line then there is support around the 9350 to 9420 area. Really in no mans land at the moment. I am not sure how I am going to play the open.
Price move about 10 ticks above my entry then pulled back. Waited a couple minutes for it to move and nothing happened so I closed it out for a 3 tick loss.
Looking at this trade again I realized my entry was poorly placed. It really should have been about 8 ticks lower. I took what I thought was a "safer" entry point.
Did not have my stop far enough away from the current price. The trade direction idea was right but I rushed the trade. This was a mental mistake. The idea was to have the stop about 5 ticks higher than the previous close. Once in the trade it pulled back. Had I left my stop where it was originally at I would have been down 10 ticks. The positive side of this trade is I realized I was wrong and exited the trade before my full stop was hit. -6 ticks