Night Owl™ Crude Oil Profit Attainment - 6/29 Session

Night Owl

Moderator
Staff member
DELIVERY PROFIT TARGET ATTAINMENT AND PRICE ARRAY DEACTIVATION:

With the attainment of faded Delivery Profit Target C at 38.225 following the elected Night Owl™ faded long Aug QM price array line at 37.525, the long CL/QM price array posted by me for this 6/29/2020 session no longer is active. Night Owl™ will take no more limit entries from that array during this defensive session.

A “defensive session” is one in which market elects many lines from the Night Owl™ price array before attaining its first Delivery Target C. That is, in a defensive session, Dynamic Targeting moves our targeted exit price several times to keep our exit price from becoming too far away, in case we’re on the wrong side of the market. Hence, the term “defensive session”.

A defensive session might create more work for us as a trader, due to adjustments to our targeted exit price. On the other hand, that’s better than a stop-out loss in those cases when market reaches our dynamically adjusted targeted exit price, but doesn’t ever reach our original targeted exit price.

That is what has happened today – our dynamically adjusted target exit price elected, but our original exit price has not, so far. Thus, we have avoided the possibility of stop-out for any loss.

Faded @ line election – 37.850 at 18:02 -> targeted exit price at 38.550 faded Target C;

Secondary line election – 37.750 at 19:08 -> targeted exit price at 38.450 faded Target C;

Secondary line election – 37.650 at 23:03 -> targeted exit price at 38.325 faded Target C;

Secondary line election – 37.525 at 1:53 -> targeted exit price at 38.225 faded Target C;

Profit target attainment – 38.225 at 5:40.

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 Aug CL or Aug 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

P.S. View day-by-day Night Owl™ accuracy at the following link:

https://1drv.ms/x/s!Al-ChZGwJcUmkOtd3CnO_LLDRzmCig?e=m75NII
 
Top