CL Redux

Quote from DonCorleone:

Nodoji, you've been playing the bounce off of 20 ema on 5 min chart all morning, haven't you? you, Ms. ATM you. :cool:
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Absolutely. I had a few little short scalps, but all the good stuff was long. I had a long position in place for a break of the high for what seemed like forever (20 minutes), and normally I would've just scratched it and got a bite to eat, but the stop was only 8 ticks, so I sat on that puppy until suddenly price disappeared off my DOM.

I will say there were some nice counter-trend moves late day here, but the best trades were long, including the last push off the round number.
 
- on fundamental side , surprised CL did not bother much of Japan concerns , just focused on UN resolution Vote and Baherin ..

- very clean action from technical side , first 101.50 resistance , then 102 support , 103 resistance
- EMA 10 line hover and parallel EMA 50 line ( Chart 5 min MAY contract)


http://bit.ly/gXYdYC

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lots of scratch trades ...

Quote from InvestVision:

long .50
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Quote from optiontimer:

I'll play too ...

Long 99.61, stop 96.21, target 111
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Quote from Picaso:

What's the timestamp of your trade? :confused:

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Massive breakdown on the RTH open, anyone?
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Quote from EON Kid:

If you want to play, play by the rules, see the first post TY

http://www.elitetrader.com/vb/showthread.php?s=&threadid=178741&perpage=20&pagenumber=1

GM all
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I figured that as this was obviously not a day trade that there would be a little latitude with the post, especially as price was but a handful of ticks from my posted entry point when I posted.

I was filled on a buy stop a few seconds after 6:30 AM EDT. At the time my post is time stamped, price was about 20-25 cents higher than my entry. At the time I actually hit the submit button, I believe price was 99.66/99.67. I do not know what time I actually hit the submit button, as my that was only my second post here at ET, and there is a delay between when I post and when the mods post it to the thread.

I am not day trading (which I presume is obvious from the $4 stop and the $12 target), and I am sure that the choice of a buy stop at $99.61 should be obvious to all who have access to a daily chart.

I'm still long, and my stop is still 96.21 until further notice. I do not have a limit order at my target, though I do have a buying panic spike limit well above my intended target just in case I get lucky.

Based on the daily chart, the major trend is up, the minor trend was down. The minor trend appears to have bottomed at 96.22 and the major trend is now reasserting itself. I'm not a day trader, but if I were, I'd be taking only my long signals right now and passing on the shorts based upon price action on the higher time frames.
 
UN council to vote on Libya no-fly zone at 2200 GMT ( 6 PM EDT USA)

<< that is 3 hours from now >>>

UNITED NATIONS, March 17 | Thu Mar 17, 2011 1:13pm EDT
(Reuters) - The U.N. Security Council will vote on a resolution to authorize a no-fly zone over Libya and stepped-up sanctions at 6:00 p.m. EDT (2200 GMT), Britain's U.N. Ambassador Mark Lyall Grant told reporters on Thursday.

http://www.reuters.com/article/2011/03/17/libya-un-vote-time-idUSN1722308420110317
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http://www.guardian.co.uk/world/2011/mar/17/un-resolution-libya-no-fly-zone

The United Nations security council is planning to vote on Thursday on a draft resolution
- that would not only introduce a no-fly zone over Libya
- but would authorise the use of air strikes to stop the advance of forces loyal to Muammar Gaddafi.
 
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