CL Redux

Quote from schizo:

CL currently trading at 90.30 and I'm nearly at breakeven at this stage with two previous adds (88.76 and 91.77). Will hold for a few more days. The stop placed just above the all-time high.
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I almost feel guilty for making money. I'm not sure who is the bigger moron, me or this market.

Target still stands at 85-ish. However, I have a feeling we'll break below it.
 
If we go back down to 85 wouldn't that create a super sweet H&S on the 4 hour. 85 Could turn into 80 real quick. We just need China to put the breaks on a little harder.
 
Quote from riskaddict:

If we go back down to 85 wouldn't that create a super sweet H&S on the 4 hour. 85 Could turn into 80 real quick. We just need China to put the breaks on a little harder.
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Lost track of your trades Are you short? I tried 89.05 long a minute ago and it looked stalled out so exited b/e. It did hold S2 on this trip down originally and is sitting right on it as I type this.
 
Quote from riskaddict:

If we go back down to 85 wouldn't that create a super sweet H&S on the 4 hour. 85 Could turn into 80 real quick. We just need China to put the breaks on a little harder.
More...
Remember that chart Picaso posted? I'll find it. 80 was the bottom of that channel as I recall.
 
Quote from riskaddict:

If we go back down to 85 wouldn't that create a super sweet H&S on the 4 hour. 85 Could turn into 80 real quick. We just need China to put the breaks on a little harder.
More...

If we break 85 and shoot straight down without any pause, the target should be near 78 according to my broken crystal ball. But methinks the ultimate target is in the lower 70s.
 
I was short, long and then short and then long and now done for the week. I've made a whopping $680 on 4 trades today before commish. I haven't been posting any trades because I just find it tough since my wife went back to work I'm stuck with the baby by myself. But I can't stay away from you guys for to long, who else can spew my convoluted opinions to?
 

Attachments

Quote from riskaddict:

I was short, long and then short and then long and now done for the week. I've made a whopping $680 on 4 trades today before commish. I haven't been posting any trades because I just find it tough since my wife went back to work I'm stuck with the baby by myself. But I can't stay away from you guys for to long, who else can spew my convoluted opinions to?
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:D Hoping the little lady is having a great day. :) That's not bad, $680. Better than me. I missed the selloff while I was getting my beauty sleep this morning. And even with that, when I got up and looked in the bathroom mirror, it shattered. Guess I got up too soon. :)

Couldn't find Picaso's chart. I'll look again later. It was a long time period upward channel.
 
Quote from schizo:

If we break 85 and shoot straight down without any pause, the target should be near 78 according to my broken crystal ball. But methinks the ultimate target is in the lower 70s.
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Sorry schizo. It was your chart I was looking for not Picaso's. :) Just to show it to everyone again. Here it is. http://www.elitetrader.com/vb/attachment.php?s=&postid=3073566
attachment.php
 
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