CL Redux

we got a flavor of Config. 1

but the up move was very steep. Seems strength in equities helped.

for Retrace it seems
target 1 is 109
target2 is 108.75 ( resistance point before this big upshot ) , this may be Low for the rest of the day IF we get there at all

some other ideas on Retrace Targets please ...


Quote from InvestVision:

Here I am speculating on 3 possible configurations for OIL today Friday and let us if we get any of these today ( few ticks here and there ) :p

my thoughts are OIL price is now back to tracking Libyan events at least this Friday, few mentions
- US/UK/France state heads writing article stating again 'gaddafi must leave for good'
- NATO now seriously looking for air strikes on ground where ever they can find gaddafi forces
- first opposition gathering in Tripoli


we had these close price approximate
4/13 close 107.50
4/14 close 108.50
if we assume 4/15 close around 109.90

config 1:
-----------
- price reaching 109.50 in first 2 hours after US stock markets open
- then retrace to 108
- final push up to 109.90 by close

config 2:
-------------
- price pull back to 107 level in first 2 hours after US stock market ,
- some chop around 108 later then
- finally push to 109.90 level by close

config 3:
---------
- price chop most of the day and closing 108.90
- this case gives basically NO week end premium like the one we had 2 weeks ago on Friday
- the following monday Rebels captured Ajdebiya after NATO strikes on Libyan tanks waiting outside city First of its kind at that time , the after the fact monday analysis concludes the big Traders anticipated this action on Friday hence no week-end premium.
- if we do not have any week-end premium today , there will be some interesting/surprising events and price action on Monday ..
More...
 
Quote from NoDoji:


I've a question about the "market if touched" order, because I've been trying a lot of anticipatory limit trades and often price hits my level but I don't get filled (damned bots!)

How does that type of order work, is it if the bid or ask is touched or does someone actually have to transact a trade at that price, then your order becomes a market order?
More...

ND - unless it varies by broker/software, as soon as that price is touched, your order should turn into a market order. Of course you know the potential slippage involved when sending a plain vanilla market order.

http://www.investopedia.com/terms/m/marketiftouched.asp
 
Well it's good to know that I've had my chart on the wrong tick size all morning. :eek: The chart makes even more sense now! I wouldn't have even taken that last long in the first place if I was looking at this correctly.
 
You must log in or register to reply here.
Back
Top