This came within 10 cents of being the best trade of the week for overnight traders. But depending on how strictly you adhered to Nat’s numbers, a potential $1600 profit could turn into a $300 loss.
That’s what happened to us.
We entered short early in the overnight session with an exit-and-reverse order at the top of Nat’s buy level, $1217.40.
The decline stopped 10 cents above that point and marched briskly back to close at the high of the day.
Our first trade was never covered. Our second trade was never initiated. And we were stopped out above the Keyline for a loss. Second day in a row that excessive parsimony turned a winner into a loser.
Traders monitoring the trade room had an excellent opportunity to catch both ends of the move.