Daily Review

Review – CL Short (with video)

CL Short

Classic entry short of a pivot break. Oil remaining heavy with US output over shadowing the recent draws and with an uptick in the Baker Hughes rig count adding to the recent pressure. This was a technical trade that took around 90 minutes to play out. The trade went against me multiple times putting pressure on an early exit for a scratch, I held it, stuck to my guns and stayed the course, which netted those hard fought ticks. Overall I am happy with the execution, could have banked a few more ticks if i had scaled in from a little higher up passed pivot. However, if this trade had turned sour would have lost more than I was willing to give on the trade so in retrospect I think I played it well. The trade eventually played out till s1, so could have held the last contract on for longer.

Final execution chart shows entries and exits below.

CLPivotShortClassic1


Disclaimer: There is substantial risk in trading. A loss incurred in connection with futures trading be significant. Target Alpha Trading makes no claims whatsoever regarding passed or future performance. Any Strategy is for educational purposes only.

 

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