CL Redux

This looks more and more to me like a great short opportunity for the next week.

Equity market still ready to pop and enjoy a nice sell off

Oil overpriced in general -ignoring Dollar/Equity markets

Egypt protestors really going to stall oil production when they are in the streets due to increased commodity prices? These are regular citizens not terrorists.
 
Quote from riskaddict:

Is this consolidation or distribution at between .50 and .60?

I can confirm it was consolidation by the fact I fell for the triangle break (that narrow point that I hate so much and almost never trade except today) and was stopped out in full.

I didn't quite sell the low tick, someone else sold a tick lower :D
 
Quote from NoDoji:

I can confirm it was consolidation by the fact I fell for the triangle break (that narrow point that I hate so much and almost never trade except today) and was stopped out in full.

I didn't quite sell the low tick, someone else sold a tick lower :D

I don't trade triangles anymore either. Maybe on daily charts if I were longer-termed-- but day trading those candle patterns seem to perfect the whipsaw trades.
 
Quote from riskaddict:

Glad i was patient short 3 qm's 91.10

I guess I could have been more patient, I don't think I'll be adding to this loser anytime soon. Placing 1st stop at 92.10.
 
I just came within a tick of being stopped out. Could this be the day I actually catch a break? Now if it can just slump back down to 89.70 that would be great. My guess is we pit close at 90.80 just to piss me off.
 
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