Is Crude Going to Zero? Why Stop There Amirite?
Trade Setups for the Whole Week on CL
Note: The price to new subscribers only will increase tonight. See the announcement here: Pricing Change
As mentioned previously, we will increasingly apply these precision setups across additional markets and individual equities over time. Due to limited bandwidth and time this past year, the service has been mostly focused on SPY 0.00%↑ day trading which is why I have continued to significantly underprice the service. As those issues continue to resolve and automations are put in place, we will see more and more like we saw on NVDA 0.00%↑ and QQQ 0.00%↑ from the plan for 9/27. The NQ short on Friday may have been the trade of the week, though I know a number of you took the NVDA 0.00%↑ box breakdown short which was initially tricky to navigate into.
We were looking to short NQ on a failure in the 20336.25-20405 range down to the 20252-20272 range with runners for Thursday’s low. We were also looking for a long on a sweep and reclaim of Thursday’s low. Whichever occurs first is of course generally more likely to produce a large move. The short played out both overnight and during cash hours. The long played out late in the day. The overnight trade set up pretty early in the session and found its target and a reversal during the European session. The Euros drove price right back into the single prints but at the cash open this move was soundly rejected. The top of the 252-272 range was tagged just after an hour into the session and ultimately made it to Thursday’s low which set up the reversal long. Being late in the day in a bearish intraday trend, the long only made it back to the 252-272 range where VPOC sat. This was still a very quick 70 handle trade.
From the plan and the chart (note the typo the B period is 10-10:30 not 10-1:30):
For Monday and really this week we can monitor for a number of trade setups on Crude all week. It does seem likely that one plays out on Monday. I won’t have these additional setups every day just yet, but we will be doing them with an increasing frequency.