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Shortly after the open, the bulls came in, but only managed to make the crude rise to the previous close, then the bears pushed through the resistances slowly, but steadily.
After the drop, the price stuck around the 89.6-89.75 area. The bulls tried another push, but the 90.2-90.35 area with the ONL got rid of them, and the price went back the 89.6-89.75 area again, to wait for the close there.
Can you help answer these questions from other members on NexusFi?
Trade 1:
Time: 10:38
Sell 5 @ 88.78
Buy 5 @ 88.83 P&L w. commissions: -273.1
Well, I managed to avoid one mistake on Friday, I couldn’t avoid today: I chased the bears. I rarely enter at the bottom, if I do, I need a good load of tension, which wasn’t there today. It was a bad trade idea, so the trade became sour.
Trade 2:
Time: 10:45
Sell 5 @ 88.98
Buy 5 @ 88.98
P&L w. commissions: -3.1
It was risky, because the last two bottoms were on the same level, so one could see the signs of turning. However, I counted of breaking down 89, but it didn’t fall fast enough, so I scratched.
P&L for the day: -276.2
P&L for the month: 127.4
P&L from 09.24: 392.6
After the open, the crude went sideways 89.55-89.78 area, then broke the ONL, and headed to the next support (88.85-88.97), and a pivot. From here, the bulls took over, first they pushed back the price to 89.55-89.78, then, after a long bullflag, they rocketed through th open. At the ONH, the bears came in, but they couldn’t push lower than the open, here the bulls came again, so CL closed close to the ONH.
If you like my journal, please help me win the journal contest. All you have to do is push a ’Thanks’ on the #14 post (daddy) on this link:
Yesterday int he second half of the day, the bulls won, however, overnight the price came back below the previous close.
If the crude can go below the 89.51-89.75 area, and the ONL, the next support is the 88.91-89.15 area.
If the bulls can push through the 90.6-90.8 area, and the ONH, the next resistance is the 91.14-91.72 area. I don’t think that the bulls can ride through this wide resistance.
Trade 1:
Time: 9:31
Sell 5 @ 89.66
Buy 5 @ 89.62 P&L w. commissions: 146,9
The idea was to break down the ONL, which was touched by the price two times after the open. I saw a huge amount of buy order, which was absorbed by the bears. After this, buyers came in, so the flush down didn’t happen. My position was good for a 3 tick gain.
Trade 2:
Time: 11:14
Sell 5 @ 89.48
Buy 5 @ 89.38
P&L w. commissions: 476,9
At the time the bear trend seemed to end, as the price didn’t make a new low. Apart from this, I’d call the setup one of my favourites: streched with decreasing delta, with volume imbalance on the top. Target reached.
P&L for the day: 623.8
P&L for the month: 751.2
P&L from 09.24: 1016.4
If you like my journal, please help me win the journal contest. All you have to do is push a ’Thanks’ on the #14 post (daddy) on this link:
The bulls couldn’t even push through the previous close. They bounced back from the 90.17-90.3 area, then broke the ONL, and began to move sideways. Three times tried to go above the ONL as a resistance, failed. The day ended at the 88.91-89.15 zone, more than one point to the bears.
If you like my journal, please help me win the journal contest. All you have to do is push a ’Thanks’ on the #14 post (daddy) on this link:
