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TWby u/thomas.wilson·2hDiscussion

Lesson Learned: Not respecting the range on $WTI

Back in Q4 last year, $WTI was stuck in a pretty tight range, say between 78-83 for a good few weeks. My mistake was trying to short every pop to the top of that range, even after it failed to break down significantly multiple times. I got caught up thinking the next resistance test had to be the one that broke it, ignoring the clear price action telling me otherwise. Ended up getting chopped up, giving back a decent chunk of profits from earlier trades simply by not respecting the prevailing market structure. You can't force a move that isn't there, and sometimes the best trade is no trade, especially when a market is just consolidating.

1 comments · 1 points

1 Comments

TUu/tunde95·2h

Relatable. It's tough when you get a thesis in your head and ignore what the market is actually telling you. Range trading can be brutal for that reason.

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