5% - 10% profit per day trading

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then possibly low 42s for the high tomorrow. I believe there will be an attempt to go green over night at least once and rally a bit . My analysis is based on the Friday close, which came off well off of its intra day lows, indicating we might go a bit higher from here.
 
Once it broke 40 we are now looking at high 37s downtrend still intact. Longer term 25 should be hit. I think it is easy to get brainwashed into trying to pick longs just because we all remember that 147.00 price. Bottom line is it should never have been that high in the first place.
 
Don't like this session for long bounces at the moment seems the bounces are shorter and shorter and the selling looks like it could lead to some good liquidation over night. The best way to trade this is to just work the night. Not really make predictions such as the ones I made regarding the 40s but rather call it play by play. Downtrend is intact, bounce to 50 was it for now.
 
Quote from Yrutman:

I believe there will be an attempt to go green over night at least once and rally a bit . My analysis is based on the Friday close, which came off well off of its intra day lows, indicating we might go a bit higher from here. [/B]
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I followed whole Friday minute to minute had a very good day friday and gave back some again as unexpected FRIDAY last 1 hour gain of $1 .
When I realized later about this $1 gain in FRIDAY last 1 hour ( new york time US mkts) I analized it as 'crude Weekend premium in troubled times", here "troubled times" is middleeast is still issue as of Friday evening ( US time) so nobody wants to HOLD their SHORT sales over week end. So essentially after friday midday there are no NEW shorts and all the existing SHORTS wanted to close their postion that casued $1 gain in last 1 hour of Friday.

Since over weekend no bad news to take oil UP so that $1 collapsed and the base line is $40 which is most of the friday price
 
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entered a temporary LONG at 40.10 , looking to close around 40.40
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changed limit exit to 40.10 , I better to stick to my main THEAM "Sell market " and wait for 41 to short
 
Your right 41 to short would be a good entry just wondering if we can get it here over night or in New York after we put in an over night low.
 
Lots of stops at Fridays low, CL is very much like forex when it comes to stop hunting, and for those who doesnt think it exists well I wont try and convince you otherwise.
 
Quote from Yrutman:

Your right 41 to short would be a good entry just wondering if we can get it here over night or in New York after we put in an over night low.
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if you look at CL charts for last 2 weeks all the high were made in the over night ( london time) and the subsequent Newyork day time market proved that high is not justified few examples

first 49 hit after war news, next moring 47.5
Russian Gas cut news spiked to 50.5 , next moring 48.5

I can say 90% of highs were made in the night and subsequent newyork day time trimmered the gains till some extent.

so based it , if we do not make 41 this night , we are unlikely to make in Newyork time ...
 
"(although i have heard from a very very reliable source that etx are backing all my trades now at 1:9)"

Yep, I noticed it.

They are entering those trades directly in the NYMEX market for liquidity in much bigger sizes than what you think.

Problem is that their futures broker( like every non sb broker )is beginning to frontrun them...

ROTFLMAO...
 
the crude oil actions shows FEB09 current contract reaching $45 is over ( 1 week , 1 day left till contract end JAN 20 ) unless there is some big external news ..
 
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