BDE stands for Big Drop in Energy.
We’ve fallen below the battleground level of 95, went all the way down to 87, and now we’re retesting 95 from below at a confluence of the 200-day ska (red), 20-day ska (white), and a trend channel going back to early June. Going short here entails weekend risk since this is the Friday session, hence the need for BDE. I shorted 3 micros earlier today at 94.77 when I noticed the moving average confluence in passing and am further analyzing the trade now in the evening. I have a stop at 95.20 and will decide whether or not to hold for the weekend before tomorrow’s close if I don’t get stopped out. I have a buy order in at 85.50 to close the trade. Oil price is at 93.90 as of this writing and it is 8:50pm NY time.
We’ve fallen below the battleground level of 95, went all the way down to 87, and now we’re retesting 95 from below at a confluence of the 200-day ska (red), 20-day ska (white), and a trend channel going back to early June. Going short here entails weekend risk since this is the Friday session, hence the need for BDE. I shorted 3 micros earlier today at 94.77 when I noticed the moving average confluence in passing and am further analyzing the trade now in the evening. I have a stop at 95.20 and will decide whether or not to hold for the weekend before tomorrow’s close if I don’t get stopped out. I have a buy order in at 85.50 to close the trade. Oil price is at 93.90 as of this writing and it is 8:50pm NY time.
Trade active:
Holding 3 micros short over weekend, market close price = 92.09.
Trade closed manually:
Closed at 87.73 after coming within .25% of target yesterday and waiting for it to be hit, just tired of this trade, market noisy with Fed minutes and opex today. gain = 94.77 - 87.73 = 7.04
7.04 * 300 = 2112
7.04 * 300 = 2112
ska = sma