CL Redux

Quote from usman88:

Just added longs at 73.80. MP suggests funds are buying. Stop is 73.20
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stopped out at 73.20 for 60 ticks loss per lot. Nevertheless it's a good level for buying for long term (1-2 weeks)
 
Quote from saliva:

Out 73.44

Whoever is moving this market, I give him or her the Elitetrader's moron of the month.
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either they are the most crazy nuts, or they are the smartest traders, if they are the same players.

I jumped in pre-market a couple of times with a small loss. Then I shorted about 8 minutes into the regular hour, and it reversed on me instantly. I refused to exit (I have the habit of refusing to take a loss) and avereged in (I was totally breaking my rules). It dropped back and gave me a small win.

After that, I decided to stop trading, I am a danger to myself. Then the market dropped, I thought about jumping in but didn't. Luckily I didn't, because it reversed back up. Given my inability to take a loss, I would have been killed.

Then I watched this 9-out-of-10-failure-setups-market movement. Did I regret not joining it? No, the probability is too low for my setup. Thank you very much, I'd rather surf the web.
 
If you force me to make a prediction for the afternoon, I would say a sell off is more than likely.

If you trade the trend and have the guts to tolerate the fluctuations, being short is the way to go.

it should go below 70 next week, but do you have the guts to hold through the fluctuations?
 
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