Scalping Crude - Don't like it, period.

How I hate to scalp in lower timeframes...
But it's good to sharpen my mind, so I try not to be a MiMiMi... §8-)

Price is at upper extreme, and Centerline = Confluence Point.

Since crude has risen so much the last days, chances are good that it will take a breath and chillout in the south somewhere.

My "confirmation" is the break of a tiny shelf (white pressure line), where I stick my head in the sand like a ostrich.

P!

Comment:

...that's why it's called a KamiKaze Trade ;-)

So, this did not triggered the signal since we had no break, just a piercing and not even a close below the shelf.

Now it get's even more interesting:
If price close back into the Fork, then we have a much better signal.

I would short a clear close into the Fork, keeping the stop above the last high before it closed into the Fork again...if...

Let's see..

Comment:

Soooo...who's gonna donate??? §8-))

P!

Comment:

Partially covered...letting rest run.

Trade closed: target reached:

GM folks,

That's it, I'm closing my position.
That was a nice one and I hope someone was able to ride the $'s with me.

Learn To Earn - get my free ForkTrading BLUEPRINT Course.

P!