The Performance Coaches rebounded from a two-day slide with gains of $392.64 on today. The gains came on a timely Crude Oil ($CLX7) long at $50.76, shortly before the price started a strong rally. They were able to ride that for $0.50.
What's remarkable about that trade though is how it came just after the Performance Coaches were in a short Crude position. They shorted Crude at $50.70 with a stop at $50.80. When the price failed to move lower and instead hit their stop, the Coaches quickly reversed course.
Here's the Crude chart of what the Coaches were looking at at the time. The Coaches saw what they thought might be rejection of the move lower and entered the long right after their short was stopped out. Sure, this introduced a risk that they might get whipsawed - particularly since the stop was put above the daily low (at $50.64 vs $50.62 low).
However, they believed that if the price were to move higher, it couldn't re-test the low. Ultimately, they were right - prices fell to $50.67, but rallied from there.
(30-minute $CLX7 chart as seen on commission-free TSTrader.)
Follow the trades on Twitter (@topsteptrader) using #CoachesCombine. As a reminder, we report the trades on a 15-minute delay as they are for informational purposes to show proper risk management. They are not trade ideas.
Total performance for the day, including fees and commissions: $392.64. Balance is $49,433.57. For more, check out their Trading Combine dashboard below.