Conoco Philips continues to trend higher making new 20 day highs which makes for textbook momentum trading. I use a 25 cents range bar to trade COP which provided 3 momentum scalps good for a total of 1.89 of profit. As you can see from the chart above my first entry provided the best scalp of .77 in only 10 minutes. The second entry was good for .49 in 13 minutes and the last one produced .63 of profit in under 5 minutes as it took out the previous day's high...textbook!
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