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This $CL short position is quite comfortable.
At first, the price was still grinding above, and many thought it was just a washout. I wasn't so convinced, because the order book had already started to weaken—every time it got pumped, it got pushed back.
A real trend reversal is not determined by a single candlestick.
It's that every rebound gets weaker.
Opened a short around 101.27, now at 68.76, profit has reached +2982.34%. The profit-taking on this decline was pretty straightforward.
I had actually noticed this level earlier, but there was no need to call it out too loudly. Just wait for it to break down on its own, and the rhythm becomes clear.
The most obvious thing during the session was that sentiment still wanted to be bullish, but the structure was no longer cooperating.
Position management is straightforward:
80% take profit first, 80% continue to hold to follow the trend, trailing the stop loss accordingly.
This is not a good place to emotionally chase shorts.
If you miss it, you miss it. Wait for the next failed retracement and then consider.
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