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Same here. I want to go long soooooooo bad right now, but I am exercising enormous will power and preventing myself from trading. It's good to sit back and watch the market objectively without being involved. So I will sit here and just watch for today.

Good luck bro. I hope there is a pull back so you can turn a profit on your position. But be ready to jump ship quick if you need to

I am sitting here watching the inauguration, can't believe how everyone is so happy. The country is almost bankrupt and these guys think Obama can somehow save them. :D

Guys, don't open up any new shorts today. If you are already in a short position, look for a good exit point and start looking for long entries. If we close above 41.53 (50 hour moving avg) today, or better yet, close above 42.66 (yesterdays high), we have cleared two major trend reversals...

Yeah good idea. I better log off of IB before I start doing stupid trades in EUR again :D I am still going to call in sick at work today though :D Want to stay home and relax

$1995 - $400 loss from euro trade last night ------ up $1572 for today :) here is the cup and handle on the 5 min that I was talking about:

woot! This baby shot up almost a $1 while I typed the last message. My exit is still at 42.5 If this trades goes to the end, i'll be so happy. I'll call in sick to work and stay home and just chill :)

Usually a few hours, i tend to swing for .5 to 1 But i think there is a good potential for us to hit top of the channel, so I am holding 41.6 is the hourly moving avg, breaking above that would put us in short-term uptrend.

lol thx mate! Though my 5-min chart, which I trade off mostly is just like yours. I actually don't like bars, but IB's chart lines are too thin and difficult to see

And on the daily charts, we are a bit over-extended on the down-side. Its time for a short-term upwards movement:

I am going to exit around top of the down channel (42.50~42.80), here is what i am taking about it:

Good to see strong up burst countering weaker down moves

I just went long 1 CL contract at 40.50 keeping 1$ stop We are still in down trend which started on 1/4 but i think we will break out of the downward channel today, because we are due for a good up day

Good morning everyone! Looks like we had dipped 3% last night and recovered. Now we have a cup an handle on the 5 min chart. :) How is everybody trading this morning?

Wow, i was just bored and decided to open up IB and see what's going on with CL and actually ended up doing two quick back-to-back long trades in EUR and lost -$412. All in 10 min. :( I am so mad myself for not being disciplined. I am keep breaking my own trading rule :mad: I am going to...

Yeah I have noticed the same thing and I am baffled by it. Though if you step back and look at the daily charts, it looks normal. We are still in a consolidation pattern and will most likely to go side ways for couple of more weeks. The CRB index is now putting higher highs and higher lows...

I see a downward channel on the hourly chart and there is excess oil supply in the market, so there is bearish pressure on oil. But the problem is that everyone (even Goldman Sachs :D ) is now expecting oil to drop soon. Usually, by the time everyone starts creaming "crash is coming", the crash...

:D Right on man! If you gonna pay, you better something in return :cool:

Well, I don't have dual citizenship so I wouldn't be able to do that directly. But, I suppose I could trade futures from an offshore account. Only problem would be transferring the profits back home without getting in trouble with IRS.

Windows 7 will fail! Microsoft's design team did something incredibly stupid in Vista: They completely changed Windows interface. This minor technical change, which is purely cosmetic, is the reason why Vista was poorly received by the general public. 90% of computer users are technically...