i just closed a runner, for a 54 tick profit, same analysis: price at top of the channel, stochastic at 80-90 level and going south, speed in the tape, price near VAH... closing a very good week of trading in the CL will see what the next week brings we have Monday US news and the crown jewel Crude Oil Inventories on Wenesday.
I just wanted to share with you all, the levels i will use for trading on Monday, or can be used for Sunday afternoon too, i have set the most important levels PHOD: 80.40, VAH: 79.94, VAL: 78.72, PLOD: 77.55, depending on opening price for sunday a trade could be possible around the PHOD or VAH.
Today i missed a perfect setup on the CL!!! i`m mad really pissed off with my internet provider, i was about to get in the trade and suddenly i was with no internet connection and the worst!!! it last for about an hour!!! so i missed my Sunday trade!! anyway i would like to share with you my analysis, i saw divergence right when the market opened, my divergence indicator also plotted a red arrow signaling SHORT TRADE POSSIBLE!! i saw a bit of speed in the tape although low volume, but the setup was perfect to trade it. price went near the PHOD but momentum was overbought so there was a high % of a reversal, and that was what i wanted to trade!! but this .... well i leave here the analysis and image if you want to check.
Wanted to share my analysis for this day, we had a very wide price move during overnight session from Fridays highs down to test the Value area Low, i see also a very good correlation (Negative) with the dollar, so if the dollar rises the crude falls. Today could be an inside day. i will trade the tests of VAH and PLOD or any forming swing low/high.
Not a problem, here you have it attached, and the settings also. I use global draw objects and draw the lines in my chart where i have the Market Profile indicator (30 Min chart) and automatically draws the lines in the other charts so i can have this 30 min chart minimized, because i only trade with range charts.
Finally some time to trade!!!...
Ok,. i saw price near VAL @ 78.70, momentum overbought, sellers in the tape, speed in the tape, so i shorted at 78.54 and profited at 78.38, for 16 tick gain. not bad, not great!! but $160 more in the account.-..
If you wanted to check the attached images i just put 1. Possible trade image, 2. the actual trade 3. the end of the trade!!.
