$CL - MOAG (Mother of All Gaps)
It's been a while since I've seen the market gap open like that. I'm not sure if being on the right side of the gap is good or just plain lucky. Either way, I'll take it. I do know that when you keep playing your edge the same way, every time, you put the odds in your favor. As traders, that's what we do by playing the probabilities and managing the risk.
My last update on oil after the close on Friday turned out to be the right move. The way the market was acting with higher highs and higher lows while consolidating in a tight range felt like it does many times before a market squeeze. Just like the calm before a storm. I've been on the wrong side of enough storms to be able to start to recognize the subtle signs and clues the market leaves behind as a warning. Getting beaten up and bruised is the price we pay to acquire experience. The lessons that come from our lowest points are some of the most important that cannot be taught in a book.
There's a gap that should get filled at some point. I'd like to see the high get tested and then sell off to test last week's close.
Remember, keep your risk low and manage your trades.
Plan. Execute. Next.
Trade Less. Make More.
My last update on oil after the close on Friday turned out to be the right move. The way the market was acting with higher highs and higher lows while consolidating in a tight range felt like it does many times before a market squeeze. Just like the calm before a storm. I've been on the wrong side of enough storms to be able to start to recognize the subtle signs and clues the market leaves behind as a warning. Getting beaten up and bruised is the price we pay to acquire experience. The lessons that come from our lowest points are some of the most important that cannot be taught in a book.
There's a gap that should get filled at some point. I'd like to see the high get tested and then sell off to test last week's close.
Remember, keep your risk low and manage your trades.
Plan. Execute. Next.
Trade Less. Make More.
כתב ויתור
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