CL Redux

+$717 simbucks today

I did too much thinking right after the breakout trade and took profits way too quick. The previous breakout was shallow and I ASSUMED (yeah, that) this one wouldn't be much better and it turned out to be quite much better.

Had a short trade on the false breakout that I didn't post because I scratched it very quickly deciding I didn't want to be top picking and decided to wait for a confirmed reversal signal instead. It turned out to be a pretty decent short in retrospect, but I shorted the confirmed reversal setup and got a nice trade out of that one.
 

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Quote from NoDoji:

+$717 simbucks today

I did too much thinking right after the breakout trade and took profits way too quick. The previous breakout was shallow and I ASSUMED (yeah, that) this one wouldn't be much better and it turned out to be quite much better.

Had a short trade on the false breakout that I didn't post because I scratched it very quickly deciding I didn't want to be top picking and decided to wait for a confirmed reversal signal instead. It turned out to be a pretty decent short in retrospect, but I shorted the confirmed reversal setup and got a nice trade out of that one.
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That last trade was very nice. You say you use only a 5' chart?.
 
Ahh nothing like waking up another $750 in the hole. If this breaks out and gets back above 83 I'll be out because it will make what I saw on the daily wrong. If it stays below 83 by 1pm I'll add to short. HAve a profitable day everyone!
 
Quote from F112358:

That last trade was very nice. You say you use only a 5' chart?.
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Thanks, I felt better about shorting once the lower high was put in.

I use a 5-min chart with the 20-bar EMA and Keltner channels to measure the strength of a trend.
 
Quote from Elitist Trader:

so im new to CL... does anyone else notice its a shit market to trade for a few hours before inventories comes out?
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options expiration today also. Should get some big moves
 
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