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Tr8dingN3rd
Apr 19, 2018 8:21 AM

Scalping Crude - Don't like it, period. Short

NYMEX:CL1!60
Crude Oil FuturesNYMEX

Description

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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

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...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

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Soooo...who's gonna donate??? §8-))

P!

Comment

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Partially covered...letting rest run.

Trade closed: target reached

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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!
Trend AnalysisChart PatternsTechnical IndicatorscrudeclshortCL
Comments
Bo
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Whether weekly or hourly and everything in between, you show the forks as tools for all seasons. You make it appear so obviously simple that I do not take the trades as if it is too good to be true? But true it is! Oh my, again I must return to the drawing board and simply listen. Thank you again.
Tr8dingN3rd
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Hey Bo,

OMG, so much Flowers §8-)
Thank you Bo.

I give my best and I hope that I can make a difference in the Trading World.

Have a happy Day Bo,
Emilio
break
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thanks for the comments about the charts very helpful
Tr8dingN3rd
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your welcome.

glad to have you on board in our ForkTrading Group!
keep up your engagement.

P!
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