long 95.46 again. stop loss 95.29. target 95 and 95.30 area ,if volume shows up. Maybe this time it will take me out. Will never know till one puts on the trade.I like to walk at the edge of a cliff. Feels like a cliff but with stop loss, it's a small ditch.
Jesus, Natty gas down over 4% again today. Got down to 3.12. The monthly A down was 3.40. That's the 2nd f*cking month in a row I didn't short this thing because I thought it was too low!!!!!!!! Damn.
and my desire to get stopped out finally got full filled (lol). Not a BAD Box- gave 120 ticks from the long side before taking 15 ticks away. Missed the shorts as I wanted to short around 95.20 with stop loss at 95.41
Oil looks like shit man. That thing is going to 85. Number line is weak, price action is terrible. Intra-day you can scalp it all over the place but on a macro basis I would be looking to sell every rally.
Correct Maverick but we have not gotten a rally or decent pullback to short. 11.30 till 1.50 pm , a nice box during slow time and that's all one can do, if not already short from way up there. In box trading- stop loss is key. Once a level gets broken, price tends to go to the middle of next bell curve. like 94.50. It either works or does not. since it took hours to break 95.39 level, expectation was another leg down to 94.50 area. Just like if 96.40 was taken out, next stop would have been 97.40 area.
Good thing about days like today is that at the right time- 80-100 ticks are made or lost in a short time. Hopefully no one is trading with 80 ticks stop loss on this thread. Long 94.44 out 94.94. I do not prefer counter trend trading but have to deal with the hand dealt with.