CL Redux

Quote from NoDoji:

Double bottom was a setup, 89.30 was the entry signal. I tried the first break, 3-tick loss, re-entered @ .31, took 20 ticks on the pullback from the 20 EMA.

This is counter-trend scalping BTW, a true reversal, I'll hold longer.
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Donna,

This is me paying it forward to you. Here's your call with a twist.
 

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Glad I caught the whole move today from 92 down to 88.38. And that was for 10 contracts too. I've been waiting for another day like Friday and that day was today. Oh, wait! Shoot! That was just a dream I had during my afternoon nap? Damn! :)

Disappointed I didn't actually catch more of the move today. Oh, well. Too many scalps. And also I was focusing on TF too, although I did well on that one. It's better to really focus on one contract and give it your full attention. Especially on days like today. And today this contract was the contract. And also I missed an hour or so in the middle of the day. It's nice to know though that the possibilities are there. We can all do the math. And then to just examine what we actually did and see what we can do to improve our entries, our holds. our stops, our exits, etc.

Hoping everyone had a good day and made some good money.
 
I mainly trade future currencies and I have been following this thread for awhile and I have to say this is one of the rare journals were the group is not bashing one another but giving praise and guidance.. I look forward to more post as I am learning allot on the /CL contracts and the bright individuals here that trade them.
 
Quote from SteveH:

Donna,

This is me paying it forward to you. Here's your call with a twist.
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Steve, thank you much for that. I've been discussing this with my mentor at length. I've just gotten to the point in the latter half of 2010, where I've learned some advanced setups, but what you illustrate is advanced trading. I want to get to where I build up confidence to trade this way. For now, my first step is to be positioned initially on a the pullback and then add to the position on the breakout.
 
well played folks! I caught the 20 ticks up and then got short at 89.10 but covered at 88.75. This morning just went short at 88.20 looking for s1.
 
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