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If you hold small losers until they become large losers and if you average down, it means you're trading against the trend and trying to pick tops and bottoms. Support is only support when buyers find value at that level and come back into the market there with enough power to overtake...

I saw it as the place where pullback pivot players got long for the upside breakout, break of the 1:45pm ET bar high was 112.66, and in fact I'd gone long @ .64 off the 1-min. Makes sense for that level to get tested as a buy zone, and tight stop on that trade, too. Did I say "Very nice!"? :cool:

Oh wow! I just added pivot points back onto my chart and sure enough to the tick! OK, keeping pivot points on chart...

Nice! What was the significance of .65? Never mind, I see it, perfect level, very nice!

Yes, very nice setups today. I was positioned short and holding a very nice unrealized gain. I was obsessed with a breakout of the key level 111.00, absolutely certain it was coming and so I was holding my position with a stop trailed above the 5-min bars, and then I wondered why price was stuck...

I usually don't like to trade this closing half hour, the actions gets too volatile half the time and I can't figure out why price is doing what it's doing. 112.76 is the 5-min 20 EMA, that seems to be a sure thing half the time - lol :p P.S. Don't you love us committed traders...half the...

Where's bigsnack, this was an ideal triangle play for him!

It's OK, I can afford it, I'm one of those over-caffeinated speculators driving up the price of oil, you know? :cool:

Ha ha! I took mine off @ .22, and thought the same thing... ADD: I'm afraid to short it and I'm now suffering from "too high to buy" disease :p

For those who like S/R plays, notice how 112.87 held on the dip, previous R was 112.86 from the 12:40am ET bar high :) Can we get a .73???

HOD in play at the very least here.

Upside breakout measured move target would be 113.73, I believe. I can't imagine it doing that, but I didn't imagine the last move up either.

I bought .64 and exited at 12.09, bid 11.98 long didn't get filled and chased entry at 12.01. Initially I was targeting the 12.44, but I took that order off in a hurry! ADD: Stepping away from my desk now, hopefully won't miss a run to 114.00 :D

I was taking only longs into that, previous R becomes S entries and as usual the trend offers the easy money.

It was "Inventory Opposite Day" again. Whatever price does on the report, take the other side and hold for new highs!

If you were still short when that breakout occurred, you're just a greedy pig who doesn't know when to take some off the table :D :D

News???

Yes, catching one or two good morning moves used to be my signal to stop trading. Now with CL, I can trade that thing all day, but with momentum stocks and stock index futures in general, once the big boys and girls go to lunch, the professional scalpers set to work raiding the accounts of...

The early moves are usually the best of the day, but you need a pre-open plan to take advantage of them. When I fire up my platform in the morning and look at the 6 hours or so leading into the hard right edge at that moment in time, I make all my initial notes: Minor S/R levels off the...

I had huge success my first three months of trading despite not knowing anything. No risk management though, and all the success went out the window rather quickly during The Big Bear. I went into a dark place for a while. I then had great success shorting strong stocks making 52-week...