Night Owl™ Crude Oil Profit Attainment

Night Owl

Staff member

With the attainment of faded Delivery Profit Target C at 34.225 following the elected Night Owl™ faded long Jul QM price array line at 33.575, the long CL/QM price array posted by me for this 5/27/2020 session no longer is active. Night Owl™ will take no more limit entries from that array during this session.

Faded @ line election – 33.775 at 2:33 -> targeted exit price at 34.400 faded Target C;

Secondary line election – 33.675 at 2:43 -> targeted exit price at 34.325 faded Target C;

Secondary line election – 33.575 at 3:27 -> targeted exit price at 34.225 faded Target C;

Profit target attainment – 34.225 at 5:26.

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, as I discussed on May 26 in Trading Group 1 at this Aeromir site.

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

Night Owl

Staff member
Today has provided an excellent example as to why Night Owl™ uses Dynamic Targeting:

In Jul CL, our faded long @ line entry elected at 33.775. Night Owl™ recommended targeting full delivery for this play (i.e., Target C). Faded Target C for the @ line was at 34.400.

Jul CL subsequently went against the Night Owl™ expected direction and elected the faded 33.575 line, two lines below in the Price Array. That election pulled our targeted exit price down to 34.225, also two lines below, which was the faded Target C for the 33.575 line.

My point? Jul CL went up to 34.27 from there and then plunged lower to 32.71 (as of this 10:45 ET writing). It never got to the original Target C at 34.400. So, if we had not used Dynamic Targeting, instead of taking our long profit at 34.225, we would have ended our trade with a stop-out loss.

This is one way Night Owl™ "listens" to what a market is saying and adjusts itself accordingly.