Night Owl™ Crude Oil Profit Attainment - 7/31 Session

Night Owl

Staff member

With the attainment of faded Delivery Profit Target C at 40.425 following the elected Night Owl™ faded long Sep QM price array line at 39.700, the long CL/QM price array posted by me for this 7/31/2020 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”. They often are choppy, rangebound sessions.

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 loss for our last @ line election and minimized any CL/QM trading loss for today otherwise.

Unfaded @ line election – 40.150 at 21:01 -> targeted exit price at 40.850 faded Target C;

Secondary line election – 40.000 at 23:10 -> targeted exit price at 40.750 faded Target C;

Secondary line election – 39.925 at 10:13 -> targeted exit price at 40.650 faded Target C;

Secondary line election – 39.825 at 10:47 -> targeted exit price at 40.525 faded Target C;

Secondary line election – 39.700 at 10:54 -> targeted exit price at 40.425 faded Target C;

Profit target attainment – 40.425 at 15:59 (15:59 in CL market; 16:04 in QM market).

Night Owl™ traders should cancel any working array line limit orders in Sep CL or Sep 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:!Al-ChZGwJcUmkOtd3CnO_LLDRzmCig?e=m75NII