CL Redux

[cstfx]

May hasn't traded since last Mon/Tues

 

[oeicapital.com]

ic..

 

[spd]

.26 has been reclaimed. If we take out .37 with some conviction I'll be looking to buy

not much volume on this little bounce

 

[trader198]

lost almost 3.9k on crude toady. luckily, bought 5k FTBK at 5.5 in the pullback and get my money back. will not post real trading any more, my ego is doing my trading.

Quote from trader198:

out, ouch

[/B][/QUOTE]

 

[startraitor]

exit .40, does not seem to want to bo.

Quote from startraitor:

Long 84.10, .30 stop

 

[cstfx]

sh 84.00 target 83.79 then 83.50

edit: st 8430

 

[NoDoji]

Just got back and wow did I miss a nice set of moves. I'll watch for a reversal signal at this point, since we're on the 6th push down from the pre-market high.

 

[startraitor]

long to 84.26

 

[NoDoji]

Quote from trader198:

lost almost 3.9k on crude toady. luckily, bought 5k FTBK at 5.5 in the pullback and get my money back. will not post real trading any more, my ego is doing my trading.

198, take a look at the 5-min chart from the overnight pivot low (5:35am) into where you went long. From the pivot low there were 4 pushes up and only one of them had any real conviction (40 ticks or better is what I consider some conviction). At 8:35am, price failed to to test the overnight high, then left a confirmed lower high by way of the 8:45am bar. That's a reversal signal, short at will and enjoy a 7-tick stop. If you choose to go long there (not necessarily a bad trade because it could be a bear trap and end up breaking out nicely), you absolutely have to use a stop, technically somewhere between 85.22 and 85.42, because if there aren't enough buyers to push it up anymore, profit-taking longs and short sellers WILL push it down.

Make sense?

 

[cstfx]

Quote from cstfx:

sh 84.00 target 83.79 then 83.50

edit: st 8430

out 81 + 19 - keeps jumping around 8380 (near Fr's 38.2 move higher of 8379) seems to have a problem breaking thru that. 3x now

Will re-short at higher price