2023-07-20, day trading CL – An example not to get married to a trade!

Manny–Counter sentiment trade, Flip the script–

Even though it’s a year ago, reviewing some older stuff still holds value. This was by using an early version of the statistical evaluation indicator.

In the area close to VWAP my general idea was to look for shorts with the market going short without all the limit shorts sitting at VWAP. .
The drop after the accumulation was small. What speaks against the oportunity to go down without the limit orders sitting at VWAP is that this range had about 1 standard deviation of volume in itself. Often this calls for puking the stops on both sides.
Unfortunately at that time I had no statistical evaluation over the bar durations, however, it felt like weak hands are flocking in to short the market.
… and the strong ones pushing them gradually offsides. Hence my decision to go long. I was confident with this decision and did not get shaken out by the 2 retracing moves.
Good holding distances of the two positions.

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