This could be a good day for trading oil even if we consolidate due to the possible large consolidation range of about 1 point. so that will be primary focus until the over or under line gets violated. In the event we move out of this range will update with targets and ideas at that point. other wise will be keeping it very simple and looking for reactive triggers to trade off of.
Note
going to take a long scalpNote
got it at 54.94 with stop under days lowsNote
It is a scalp trade so managed different than a day trade, so have 10 ticks locked inNote
took my $100 per contract and stepped a side, exits will never be perfectNote
still think long is the side to be on, but not sure will trade it much today so far looks like wants to digest yesterdays moveNote
funny, right after last post system triggered a long trade at 55, As far as manual trades I did not take itNote
oil now to me looks like heading for $51
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.