CL Redux

Quote from NoDoji:

When a level is as key as that 86.30 was, being on the long term daily TL, there's a pretty good chance of a failed b/o, so I position myself ahead of the break, and moved my stop to +1 tick as soon as it broke. If I was quick enough, I'd have doubled my stop, but alas, I missed that altogether!
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lessons learnt thx.
 
Quote from NoEmotions:

Exit for 1 tick

Tried Break Down trade but instead of 86.40 selected the wrong price 86.29 , lost 10 ticks in that failed BO trade.
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Hey, it wasn't a "wrong price" at all and I think it was worth it, IMHO; you never know when you're going to catch one of those 100-tickers. I've seen them come out of the worst midday mush, too.
 
My broken crystal ball says that if this thing can't stage a decent rally off that fbo and it comes back to test it, that could be the real deal.
 
inventory numbers are going to be build of 1.5+ mil
a) as alaska fixed pipe line is pumping full steam
b) lot of year end tax related held oil is coming in this JAN month ( as per Reuters).

As I listed in my above news post , pretty bearish news for oil
- India interest rate rise ( china did already in addition to tightening the bank reserve rate )
- UK Q4 growth disappointment
- Euro weakening against dollar
- expected inventory build tomorrow
- drop in Housing price data

Quote from Good Fortune:

FOMC announcement is tomorrow as well as inventory reports
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