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Started a secondary combine today. I will be trading soybeans (ZS) along with CL. I have been practicing with ZS for about a month and have seen good results. ZS also fits the trading style I am moving into.
It is clear to me now that I am on the right track. Again today, had I been able to take advantage of the setups I would have been over 100 ticks on a single contract. I need to work on my execution. Best part about today is I was done trading @10:15 EST.
Robert
ZS-
I was too anxious this morning and got in to early on the first trade. I didnt take the second entry because I had doubt. This was a mistake because ZS proceeded to go 56 ticks right to my target.
I caught the bottom and made most of my losses up. My premise of what was going to happen was absolute correct. I need to work on my execution.
Trade Anlysis ZS:
CL -
I was late getting started on CL this morning and missed the opening move. It did exactly what I thought it was going to do and then proceeded to go to the upper resistance line I had drawn out. I didnt wait for a clear entry signal and got in too early on my first trade.The second trade I waited for a signal and caught the top down. Made it back to BE for the day.
CL Trade Analysis High Level:
CL Morning analysis: Possible trend day today if it breaks down. If it stays within yesterdays range then it will be a inside day. Supports are marked on the chart.
CL morning analysis. Because of the EIA report today I dont have a clear direction for crude.. My guess is it will be a tight range till the report hits. However, my bias is short.