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Took quick retracement to moving average with 3 contracts @ +11 ticks each. Was expecting it to go further and start congestion but as you can see this is extremely strong move to downside. Now looking for price to reach range expansion support which I need to draw on the chart.
Today, we have been sharing volume between the 3/15 and 4/15 CL contracts. Almost 50/50 but 3/15 is slightly ahead. Seems like we are stuck in a range right now. I passed on 4 good entries being a little to cautious. I only need one more successful trade and I will have met my goal for the day. But it is better to be safe than sorry. I will wait for it to move one way or the other or make a couple range bound trades with 1 contract.
Never did take a 2nd trade today. Volume is almost exact for both the 3/15 and 4/15 contracts now. Expect 4/15 to take over by the end of the day. Have to go back to the Dentist in a couple hours. I will settle with starting Live Trader Preparation on a positive note. I will also post the Trader Report later this evening. Have a great day all!
