Crude

Fairly lackluster day in the crude pits. Range was a very small $1.13, while volume was slightly below average.

Guess they were waiting for globex to ramp it up.

Well folks, we have slightly taken out the 75.89 price extreme of [b]. This is very disappointing indeed.

As I stated in previous posts, price should not have traded through wave [b] in order for this to be a triangle.

You do have to give some leeway with futures, but the continuous contract has really busted through. More than what I would consider acceptable.

Is it somehow possible that we completed both the [d] and [e] legs? The continuous contract suggests that is indeed possible.

The front month counts a little different, however, you could move [b] over just like the continuous contract.

This produces a perfect hit on the trend line. Perhaps this is the correct way of looking at it, then again, maybe I'm trying to force structure to fit my interpretation. I'm not sure folks.

Three months of scratching out 3's, pulling my hair out trying to figure out what the hell structure was doing, and this is what it gives us. Unbelievable.

Edit: FWIW I sold 75.93. I'm using a 76.03 stop with a target of 75.43. Prolly silly trade, but I can live with the results. Risking $200 for $1,000. Wish me luck.