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Final chart of the day 01-26-2012. Sharing these set ups in the SPIRIT of my trader friend who showed me these set ups without any EXPECTATIONS. He tells me he did learned a lot while showing me what he knows. Premise of the day was based off: Market did not answer the CALL after 30...

out 99.74.

Long 99.24 , stop loss 99.19. Target 99.80 area 2.23 pm

Short 100.12 cover 99.62. Lot of levels here. Weekly pivot 99.54 along with daily pivot high @99.48, yesterday close of 99.40, 99.20 daily pivot etc..

Oil pit close. For me short on bounce is at 100.16, stop loss 100.21 next 100.50 area with stop loss at 100.64. Above 100.64, short will be at 100.80 area with 100.91 stop loss. Will try long if REAL FLUSH happens into close.

AND 100.40 breaks on VOLUME. I thought about holding a bit longer as ES was selling but -------- did not execute. A split 2nd decision probably costed me another 100 ticks in MISSED OPPORTUNITY because target now is 99.50-99.20. It's OK, getting reading to go long or short on BOUNCE.

1.36 pm cover 100.44.

Thx.

Nothing exciting has happened except TRADING BOX is intact. It may either break to the up side or to the down side. So far last short at 1.13 pm has not stopped me out.

Cover short of 100.82 - at 100.44 12.19 pm. Done for the day- unless something exciting happens.

HOW TO TRADE WITH CONTEXT & WITHOUT INDICATORS: 1) CL price action is like today on 70% of the days. Unless one is FOCUSED on CL, it is very difficult to trade on days like today. Traders correctly call days like today NOISE, NO TREND, CHOP etc.. 2) It is easier to trade something which...

1st trade off failed A up set up.

your charts are not coming through.

This is a concept i learned from Jim Dalton. Yesterday ( 01-25-2012) close is 99.40. As of 8.15 am ( eastern time) CL is at 101. This means lot of traders are holding long positions from Euro session. At the open couple of things can happen 1) market opens up and continue one time framing...

01-26-2012 pre open. Overnight Inventory is LONG and i will be watching to see if Open and 1st 30 minutes into open are as BULLISH as Globex price action.

GS, INTC, IBM, GOOG, AMZN, ORCL weak all day- Hummm---

BIG BEN was speaking but 99.20 level still HELD. long 99.28 out 99.72. Done for the day. Those 40 ticks gains add up.

Why long at 99.20 may be a good idea.

short trade into 100.40 chart QUESTION we all have to ask ourselves- WERE WE READY WHEN THE OPPORTUNITY CAME?

long 99.45 out 99.96. Will try long again in 98.50 to 99 area . OR short 100.40 area