I'm removing the short CL JUN hedge, entry: 85.85 exit: + 10 ticks 85.75 1) I'm naked long NG , 3 contracts , no need for a hedge anymore when price moves your way, 2) Hedges sometimes fucks up the best of plans. Naked Directional is best once its on its move.
Price pattern prediction for UNG next few hours: 1) huge fucking rally. Candlestick upwards should be huge, like 3x normal bar size. At least 2-3% on the upside. 2) Normal rally to 4.13 Lets watch and pray.
I'm not too happy about taking off that CL hedge, Its diverging, but CL short would cover me today very well. Like bulletproof armour for anything that happens today, up or down. I would reshort anytime CL pops its head above 85.80 JUNE In reality CL was not a hedge, A Diverging trade, its actually 1 large position going its seperate ways . Not a long/short hedged position.
Closed position NG 4.70 -2 ticks Not good. Mistake: closing the CL hedge on a diverging day. If I was in the hedge, I would still be in the positon no problem.
No trades for next few hours ,price action was broken for NG , so I don't believe it'll go up next few hours. I'll know by 10:00 AM if price action solidifies on the upside, We'll see. Right now I don't recognize the price action. I only trade shit I recognize, and it isn't that many things Going outside bbl.
price action still on the upside waiting for my entry.. larger external buyer on 4.10 waiting for the next 20 minutes ... looking to ENTER long @ 4.08 current 4.096 ------- market is dynamic, keep changing views with it.
Not entering, NG 4.08 Weak. I want to see 10:00 Close. * Never enter based on a specfic price level, Price will drive it through and laugh at your loser ass while doing so.
NG 4.053 , WEAK We are going for 3:30 PM afternoon entry. theory: big players not supporting price while CL/ES is dropping like a rock. -------- my market views changes with the markets, never fixate a certain market view, Market is dynamic, keep changing your view with the market. Its only the right view, if you are making money. This is called trading what you see, not what you believe. As them non-trading GURUS say hehe
tricky price action, I will not enter a position. Don't recognize it, 60 minutes chart is all fucked up for both NG and CL
I couldn't have caught that move with a tight stop price 3x triple dipped today. 6:30 dip once 7:30 dip twice 9:00 dip third This doesn't happen in stocks. Now I remember why I don't trade futures Too many opinions in futures, price is moving like a schizophrenic. ---------------- Going home, No more trading today End result of the day +10 ticks in CL -2 ticks in NG Basically a scratch. I'm looking for 7% not .08%