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short 99.98 . cover 98.60. + 38 ticks. There is no reason for Cl to stop here, it can go all the way to 98 or below or just stall in the middle. Market is stealth mode- meaning not much volume since 11.30 am- so i do not have much confidence in my set ups to hold for longer gains...

Mid day chart.

Flat ahead of 10.30 report.

keep booking ticks at 99.98 area and buying pull backs 99.60-99.80 area with some left in case 100 breaks on Volume. So today is a scaling in and out till some clear direction.

stopped out. long 99.64, out some 99.98. target 100.50 area

short 99.68. stop loss 99.81

02-08-2012 I extend my OR on DOE report days to 10.45 am

02-07-2012 Not having system 2 and 1 of brain in BALANCE can cause some missed opportunities. Jim Dalton talked about this concept in his webinar. I have listened to it 3 times, looks like i need to revisit it. http://www.jdaltontrading.com/webinars.php My home town team Patriots...

A NOTE ABOUT FIRE WALL: Fire Wall is my expression to say that if one has enough success in market then both emotional and equity capital keeps on getting stronger. With each success it's get tougher to shake a trader out of a position. If one has to make money in trading then it's very...

02-07-2012 Oil Pit Close. Just keep building that FIRE WALL.

02-07-2012 Long off 98.34 out 98.70 No need to be the first one to go long. Let time pass and CL form some base even though in the END we are still trading probabilities.

I been getting some PM regarding cyan/red bars. attached chart shows they give plenty false signals and why CONTEXT is important.

lunch doldrums trade. 02-07-2012

02-07-2012. I love HIGH VOLUME days as there are trading opportunities all over. Why i shorted 98.68 and covered @ 98.32.

Mostly done for the day. Euro short 99.08 , cover 98.60. 48 ticks

Euro close-02-07-2012

Wow. CL can RUN. short 97.94 cover 96.60 which is middle of last up bar (POC). Plus we have A up now and shorts for me now are counter trend till some levels are broken , so i am happy to book 34 ticks. On A up days, CL can run beyond normal run like yesterday.

96.60 could not be broken with CONVICTION. Long 96.60 out 97.40. So far, 96.60 level worked - 96.61 is also OR high. Asian session high 97.44 , euro session high 97.31 80 ticks.

With 1 minute chart. As shopster pointed out lot of resistance at 97.10 area. Here is how i am planning to trade next.

02-07-2012 2nd trade . 60 ticks.