DELIVERY PROFIT TARGET ATTAINMENT AND PRICE ARRAY DEACTIVATION:
With the attainment of faded Delivery Profit Target C at 37.850 following the elected Night Owl™ faded short Jul QM price array line at 38.550, the short CL/QM price array posted by me for this 6/10/2020 session no longer is active. Night Owl™ will take no more limit entries from that array during this session.
Faded @ line election – 38.500 Opening Price (@ line at 38.375) -> targeted exit price at 37.750 faded Target C;
Faded secondary line election – 38.550 at 18:07 -> targeted exit price at 37.850 faded Target C;
Faded profit target attainment – 37.850 at 5:20.
As I have encouraged many times, you also might consider adding to your position at the ~ line as part of your nightly trading routine and then trail a stop on those extra contracts. If you’ve considered doing this, I suggest adding about 1/3 of whatever your normal entry lottage is.
Also consider taking an entry at the stop-loss line or the line in front of the stop-loss line. Doing so will improve your average entry price and increase your reward-to-risk ratio.
Night Owl™ traders should cancel any working array line limit orders in Jul CL or Jul QM and remain flat until my next posting, unless you're trailing your open position with a trailing stop order.
With kind regards,
For Markusha Oil & Trading Company, LLC
Mark Ansel
Developer of the Night Owl™ Trading Model
With the attainment of faded Delivery Profit Target C at 37.850 following the elected Night Owl™ faded short Jul QM price array line at 38.550, the short CL/QM price array posted by me for this 6/10/2020 session no longer is active. Night Owl™ will take no more limit entries from that array during this session.
Faded @ line election – 38.500 Opening Price (@ line at 38.375) -> targeted exit price at 37.750 faded Target C;
Faded secondary line election – 38.550 at 18:07 -> targeted exit price at 37.850 faded Target C;
Faded profit target attainment – 37.850 at 5:20.
As I have encouraged many times, you also might consider adding to your position at the ~ line as part of your nightly trading routine and then trail a stop on those extra contracts. If you’ve considered doing this, I suggest adding about 1/3 of whatever your normal entry lottage is.
Also consider taking an entry at the stop-loss line or the line in front of the stop-loss line. Doing so will improve your average entry price and increase your reward-to-risk ratio.
Night Owl™ traders should cancel any working array line limit orders in Jul CL or Jul QM and remain flat until my next posting, unless you're trailing your open position with a trailing stop order.
With kind regards,
For Markusha Oil & Trading Company, LLC
Mark Ansel
Developer of the Night Owl™ Trading Model