CL Redux

I longed .96 just before the big break up, got a nice +30 out of that, and another long scalp up here for +12, and I will long .51 now if we break up, for a move to 70-80ish.
 
shouldn't the breakout above 100.20 have been more violent? It's finding res at r2 but does that line really mean anything? I guess if we churn here and a new poc is formed at 100.50, 101.65 is a given tonight or tomorrow. DX is holding up at june's low.
 
Quote from riskaddict:

shouldn't the breakout above 100.20 have been more violent? It's finding res at r2 but does that line really mean anything? I guess if we churn here and a new poc is formed at 100.50, 101.65 is a given tonight or tomorrow. DX is holding up at june's low.
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More people are watching R2 than your POC -- therefore, it means something, in fact more than your POC. The only way anything means anything is if traders in the market at any given time are paying attention to it, and floor pivots have been around for long enough that they're a staple on most traders' charts.

From R1 down to S2 and back up to R2 is quite a lot of movement.
 
Quote from BCE:

Wow! Unbelievable except this is CL so you never know. This morning it was under constant selling pressure. Someone was dumping it. And now someone is gobbling it up.

Trying Short @100.47. Not seeing any falloff.
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Cover @.100.27 Oh, well. :) May reenter. Tried to bring up a chart of all my trades but it's a 1 min and wouldn't show the earlier ones.

Hey, now I'm up 14 ticks for the day. That must be a record for inefficiency in a market like today. :) But at least now I can retire to a life of luxury.
 
Josh & BCE,

Are you guys profitable every single day? I recently started reading the posts in this thread each day & all I see from you guys are tiny little losses & nice, juicy profits. You make it look easy.

Unfortunately if you saw my trades I do not make it look easy, so I was just wondering if it's really that easy for you guys.

It's really irritating to read your posts when I'm getting my butt kicked. :) :) :)
 
Quote from BCE:

Someone was dumping it. And now someone is gobbling it up.

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In fact, the bulk of the gobbling took place from 9:30 to 9:45, while it was still falling at the bottom. Only after did the weaker hands jump on and help push it back up.
 
Quote from macattack:

Josh & BCE,

Are you guys profitable every single day?
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Only speaking for myself, NO!! There are good trades and bad trades I do not post, and I am up today but not NEARLY as much as I should be. I have good days, and crappy days. You want to see really good days, NoDoji is your girl :-) I'm trying to learn from all these other guys and girls how it's done!

Quote from macattack:

It's really irritating to read your posts when I'm getting my butt kicked. :) :) :)
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That's how I feel when I am getting MY butt kicked and read BCE's posts :D
 
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