CL Redux

NoDoji · Jun 21, 2011

Quote from BCE:

Did you see those massive sell orders earlier? Saw some 700, 800, and 900 contract sell orders at different levels about a half hour ago. Good warning not to try long I guess. There was a lot of resistance around 94.30 as you say.

I was watching that too and a chunk of that size was eaten up with real orders. I expected it to just disappear when price got there. The fact it was for real seemed to spark the drop. Sure got me focused on the short side!

My internet went wonky, so I'm now afraid to trade until we get it worked out. I guess I could place OCO orders :eek:

ADD: Did all the triangle lovers play the descending triangle a while ago? That was sweet.

emg · Jun 21, 2011

if crude tanked here, plan on going long 92.09. Looking for 10cents profit target

BCE · Jun 21, 2011

Quote from NoDoji:

I was watching that too and a chunk of that size was eaten up with real orders. I expected it to just disappear when price got there. The fact it was for real seemed to spark the drop. Sure got me focused on the short side!

My internet went wonky, so I'm now afraid to trade until we get it worked out. I guess I could place OCO orders :eek:

Hi

Hope you had a good break. I've had problems with my internet connection too and it always can be dangerous.

That was a good heads up short when you see such massive orders. We'll see what the close brings here. They may have info on the supply data for tomorrow.

Visaria · Jun 21, 2011

short 9350, stop 50 t

NoDoji · Jun 21, 2011

Quote from BCE:

That was a good heads up short when you see such massive orders. We'll see what the close brings here. They may have info on the supply data for tomorrow.

Usually they're fake, though, and they vanish at the last second and price flies right through the level. I often position myself ahead of them by .10 or so and if they're real and price hangs there, I'm outta there.

BCE · Jun 21, 2011

Quote from NoDoji:

Usually they're fake, though, and they vanish at the last second and price flies right through the level. I often position myself ahead of them by .10 or so and if they're real and price hangs there, I'm outta there.

You're right. They usually just flash them. I wonder sometimes if it's computer programs making split second decisions and then "changing their mind". Or are they trying to affect the trading? Maybe the computers are faking each other out and that's programmed in.

Computer mind games.

NoDoji · Jun 21, 2011

Quote from Visaria:

short 9350, stop 50 t

I like that, Vis, but why such a large stop? I usually treat a setup like that as a breakout with a .10 stop. However, I'm definitely a scalper; 60+ tick runs are rather rare for me, except on very strong trend days.

NoDoji · Jun 21, 2011

Quote from BCE:

You're right. They usually just flash them. I wonder sometimes if it's computer programs making split second decisions and then "changing their mind". Or are they trying to affect the trading? Maybe the computers are faking each other out and that's programmed in. Computer mind games.

Seriously, it feels like I'm playing rock, paper, scissors during consolidation zones

BCE · Jun 21, 2011

See if it's still repelled by 93.70-80.

NoDoji · Jun 21, 2011

Quote from BCE:

See if it's still repelled by 93.70-80.

Channel target looks like around 94.15?

ADD: Gotta break 60-min 20 EMA resistance first.