It’s time for the Futures Desk Trade of The Day!
Today the trade is from yours truly.
It wasn’t a monster winner, but it was a quality trade from start to finish.
- CL (crude oil futures)
- A good entry according to premarket plans and key levels
- Quality profit taking when given the opportunity
- Aggressive add given the context of the trade thesis
- Great timing and read on orderflow
- Quick painless exit when ultimately the market reversed and violated our line in the sand
A very simple trade when a key level (derived and has been important over the past few weeks) breaks down. Read the orderflow and trade the pullbacks.
Here’s an intraday chart (1,000 volume bars) of crude oil with the trade marked up on it:
I’m not even going to explain the trade further here. I’ll do you one better! Here’s the recording of the LIVE STREAM from this morning in which I made the trade during, in real time.
What better could I possibly show you?
Trade well,
Merritt
*No Relevant Positions
