Again, we got a reversal in the bullish direction at 1400 ET as the energy market wound up its trades for the day. The market was also bouncing off its VWAP Line at that time.
That's a good place to play the 3 to 1 trade. Enter with a multiple of 3 contracts and liquidate 2 as the market goes in your direction. Keep 1 contract to take advantage of any surprise trend moves like the one we got after 1500 ET. Otherwise, exit that 1 contract at breakeven or slightly above breakeven.
Today's Point of Control is 1163.
Charles
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