Night Owl™ Euro Currency Profit Attainment - 7/23 Session

Night Owl

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

With the attainment of faded Delivery Profit Target C at 1.15700 following the elected Night Owl™ short Sep 6E price array line at 1.16120, the short 6E price array posted by me for this 7/23/2020 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 – 1.15890 at 18:01 -> targeted exit price at 1.15490 faded Target C;

Faded secondary line election – 1.15940 at 0:29 -> targeted exit price at 1.15540 faded Target C;

Faded secondary line election – 1.15990 at 1:57 -> targeted exit price at 1.15610 faded Target C;

Faded secondary line election – 1.16060 at 2:48 -> targeted exit price at 1.15660 faded Target C;

Faded secondary line election – 1.16120 at 3:01 -> targeted exit price at 1.15700 faded Target C;

Faded profit target attainment – 1.15700 at 8:34.

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 Sep 6E, E7, and M6E 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
 
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