US dollar up, commodities complex down BIG, ES at 1175 resistance and weak action of CL over last 2 days were all lined up. +160 ticks.
long 105.42. out 105.84. +42. new swing low, plus expecting some bounce from short covering along with 5 minute exhaustive bar were there to guide.
Long 104.90 ( last week low 104.61). Out 105.38. +48. Close under 104.55 will signal a reversal turn into sustained correction phase.
Oil pit close. Tried short 106.36, stopped out 106.51. -15 ticks. Now short from 107.10 , at today's POC. A day to remember.
What forcing trades will do to a trader when there are no set ups per his/her method. There are failed A up set up this morning but no follow through- it's been like trying to catch a jumping rabbit (lol)
short 107.92. cover 107.50 +42. Seems like sell high of OR and buy low of OR had some chance of success since 9 am. Two reasons for short. 1) $ is moderately down but no meaningful bid for CL. 2) More importantly, CL is stuck in trading box, and instead of trying to figure out if CL is going to 108.50 or 107.50, if i have to trade, i just trade box because my all other analysis since 8 am did not work out.