CL Redux

long 96.82, .2 stop

edit: cherry picking did not work :mad:

edit 2: good call on 96. didnt think it'd happen but one thing i learned trading cl is never doubt the extremes cl can hit in a trading session.
 
Pretty close to a retest of the low from Monday which is 96.13.

Quoting myself from Monday:

Quote from BCE:

Maybe there will be one more big selloff followed by a short term bottom (the emphasis on short term). Stay tuned.
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Long anyone? :D Huge moves today.

ADD Didn't see your post DC. Problem with long is so far they're hammering down any rally attempts. Good luck with your trade.
 
CL is truly one incredible instrument. Moving up strongly in the morning, then down 400 ticks from the high, and it just keeps on plugging along.... I see no reason to long this... longs are just continuing to provide liquidity to the shorts, who have the easy ride. Any guess at a bottom is just that--a guess.

edit -- and the thing is, with this kind of movement shorts can simply trail a stop above the high of every 5m bar plus a few ticks-- since the move $4 ago, no significant retraces. just amazing.
 
Quote from JoshDance:

Hi NoD, I'm attempting to get clarification on what you mean, the pic describes what I think you mean.

By the way I sent you a PM, did you get it? Perhaps you're ignoring me which is fine too, just making sure that you did in fact get it :-)
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Hi Josh, there's no way to know what will happen next on a trade, ever. I just play the price action and use tight stops. A bear flag after a strong down move often results in a measured move. That was my target. The next flag a while ago resulted in another MM.

Just found out a very close friend passed away; taking the week off.

Good trading to all.
 
Quote from NoDoji:

Hi Josh, there's no way to know what will happen next on a trade, ever. I just play the price action and use tight stops. A bear flag after a strong down move often results in a measured move. That was my target. The next flag a while ago resulted in another MM.

Just found out a very close friend passed away; taking the week off.

Good trading to all.
More...

Thanks for your message NoD, and I'm very sorry to hear about your friend. See you when you return.
 
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