Today,s CL Trade

Although I have been taking longs over the last week due to seeing accumulation and a breakout above 96 level, I took a short today, based on seeing impulsive down moves and corrective up moves and price had remained under the daily VWAP.

I had a supply zone on my volume chart and price had retraced back up to it.  However, I now look for sell signals at supply zones (or buy signals at DZ) to enter.  The signal was a 2 bar base on the 12 range chart with a RPM breakout with a delta of 60%.  This shows that the sellers are very aggressive.  I entered with a limit order with the SL just above the entry bar.

Price moved down, but had problems with a previous swing low where I had seen limit buy orders (with the delta imbalance tool).  Once this level was broken, I moved my SL pass break even.

Price then had more resistance at a demand zone from yesterday (where I was looking for yesterday's long).  There were several reversal signals there, but as the impulsive moves were still down, and I could not lose on this trade, I left the trade to play out.  I did move my SL down to +30 later, just above a limit sell order bar.  My target of 50 ticks was eventually hit.

Here are the charts.