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It looks like the uptrend has broken on a 1 minute chart for oil based on drawing a basic trend line. Maybe I can get out without a huge hit.

So someone who knows oil much better than me commented somewhere else: there was also some news about an attack on a nigerian refinery. i think that is playing more into the recovery today than anything else. Seems to be anytime there's an attack on a chevron facility, it freaks the market...

It looks to me that oil is trading higher with the broader market based on a possible recovery in the economy, and hence better oil prices. I entered the trade assuming that oil went up last week with anticipation of cuts from OPEC and when that didn't materialize it would mean lower prices. I...

Good to see you in here jazzsax. This is definitely a much different market than I'm used to - I'm assuming lots of intraday volatility. We'll see what happens, but at least I know I won't lose my shirt because I'm not leveraging with margin or using futures contracts.

Looking at the oil daily chart I see $46 area was a solid support the last week or so. We'll see if it acts as a good resistance target now that the market seems to be going there to test it. In hindsight I should have watched this market before trying to trade it.

I have never traded oil before and chose $45.25 as a stop earlier because I saw there were two tests on the upside on a the intraday chart and thought it was a good resistance point. I wonder if there were a lot of stops there and stop hunting moved the price there. Still trying to get a feel...

Moving up my stop on HOD to correspond with $48 on WTI. I don't want to be taken out of the trade by a tight stop. Maybe I'm undisciplined here, but $48 is a definite hard stop.

I haven't traded a market open in ages and was unsure if we'd get the typical high open and small retracement minutes later typical of gap up days or an off to the races from the start day. I placed orders on both HOD and HSU at a limit based on market depth making sure I'd get filled right...

I'm starting a journal to post my trades. I find this helps with my discipline and if anyone wants to trail me, has comments, or ideas about possible trade setups please feel free to add to the thread. Before I start I'd like to give a little background. I've actively traded before in two...