CL Journal

[JSSPMK]

You do understand that I'm calling intraday bottoms right?

Yes, I do. Price hasn't really gone anywhere of substance and then retraced anyway, hence my post regarding the absence of a target does not qualify as a bottom call IMO. So you made a call for price to go up, which it did, but then went down, all you did was state the obvious - price is heading up.

 

[Buy1Sell2]

So you made a call for price to go up, which it did

Right. This was a successful bottom call as price rallied 40 cents after my call. I'm 3 for 3

 

[JSSPMK]

Right. This was a successful bottom call as price rallied 40 cents after my call. I'm 3 for 3

What would have been a stop loss required for your call considering the 40 cent upside?

 

[Buy1Sell2]

What would have been a stop loss required for your call considering the 40 cent upside?

It doesn't matter, but you can easily see that it would have been a max 15 cents.--And it never traded more than 2 cents below where the call was made.

 

[tfp]

verrry verrry slooow, but... nice session lows
london session close finally offered a catalyst - the longer the balancing zone, the greater the move:

 

[Buy1Sell2]

Nice move here. Need to clear 48.39 for legs.

 

[derivativesguy]

Still long here at 51.69

This is why long term trading, with no basis in fact, is very foolish. Your stop at 46.20 was just hit.

 

[derivativesguy]

By the way, I was short CL from 48.05.

 

[JSSPMK]

Three lower tops on weekly chart.

 

[JSSPMK]

I may be speaking nonsense, yet Rouble looks shaky and the pair seems to be basing for an upside breakout, Rouble heavily depending on valuation of oil could be secondary sign of next move in oil.