Oil – inflection points for Matr. 1, 2017.

Yesterday’s trades

CL J17 Feb. 28, 2017. 30-minute bars.

Sell: $54.95
Keyline: $54.30
Buy: $53.45

The price stopped short of Nat’s keyline in the Globex market and never gave an entry signal. That likely caused some overnight traders to miss what became a nice move down.

The market eventually reached and passed her sell level before bouncing back up into the close, which gave a decent long entry point.

The drawdown on the trade was about $300 per contract, which may have shaken some traders out. Those who stayed in realized about $550 per contract If they held to the close.

Subscribers to the trade room had the same opportunity and faced the same drawdown.

Today’s workbook

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