For CL cash or physical settled products, I’d only do buy the dip, 65-68 is a reasonable range to enter, otherwise I won’t touch it. I usually just allocate 1-2 contracts overnight margins to short puts for the premium, have too much instruments to watch, busy enough screens.
If you have been following oil through multiple timeframes, you can see it has been holding the blue support zone in the chart. As long as this support zone stands, further bullish progress is possible. My crude chart, personal opinion
Choppy/sideways morning. In the past when price hugs VWAP + Keltner channels > Bollinger Bands its best to just stay out. Zero follow through with breakouts...look @ 07:10 lol. Yesterday looked similar then had a nasty 4 pt drop. Where is the setup here? Bar completely leaves 1SD VWAP (white center area) and breaks keltner channel. This is a very unusual amount of follow through though and cannot be expected to repeat. Intraday breakouts are a tough one.
Would you have sold @ the 6:45 price break or waited for bar close below that line to enter? its obvious in hindsight but curious about your style.
yes that seems the more intelligent thing to do most of the time. You miss some good moves but probably miss more false BO/stop outs.