Oil – inflection points for Mar. 24, 2017

Yesterday’s trades

CL K17, Mar. 23, 2017. 60-minute bars.

Sell: $49.20
Keyline: $48.25
Buy: $47.10

Oil recovered from a momentary collapse in Wednesday’s trading and moved back up to Nat’s Keyline and a bit beyond overnight.

By the time Thursday’s day session was fully under way, overnight traders who entered short at Nat’s keylne were under water by about $250 per contract.

That may have shaken some traders out of their positions. Those who persisted were able to realize a gain of about $500 per contract if they stayed until the close.

Subscribers to the trade room had a slightly larger potential profit.

The risk/reward on the trade was about 1:2, which is enough for profitable trading under most circumstances.

 

Today’s workbook