Night Owl™ Crude Oil Profit Attainment - 6/3 Session

Night Owl

Staff member

With the attainment of faded Delivery Profit Target C at 37.525 following the elected Night Owl™ faded long Jul QM price array line at 36.825, the long CL/QM price array posted by me for this 6/3/2020 session no longer is active. Night Owl™ will take no more limit entries from that array during this session.

We didn’t get the degree of downward retracement we had expected before Jul CL/QM moved in the Night Owl™ predicted long-side direction. I hope you used entry at the ~ line, so you could book some profit. That’s why it’s there.

Faded @ line election – 36.825 at 18:01 -> targeted exit price at 37.525 faded Target C;

Profit target attainment – 37.525 at 20:45.

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.

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