CL Redux

Looks to me like we may have seen LOD.

ADD- healthy up volume from the low so far, will probably see a decent retrace, but I think sellers are done for the day.
 
Quote from mfbreakout:

out flat 85.88
More...

please ask questions at the forum , so i do not have to repeat the question ( unless question is of private nature).


Why did i cover at 85.88. I try not to anticipate if a level will be broken. If they break 85.64 low put in, the i will re short on the bounce.

As we all know , we all have little margin of error as we have 10 ticks stop loss. CL can bounce 30- ticks before a level is broken.

I am risking 10 ticks, if i can make 30-40 ticks, i am happy.

I had no way of knowing, if cl will bounce back or go straight down to 86.50 and then 86 etc..
 
Quote from mfbreakout:

please ask questions at the forum , so i do not have to repeat the question ( unless question is of private nature).


Why did i cover at 85.88. I try not to anticipate if a level will be broken. If they break 85.64 low put in, the i will re short on the bounce.

As we all know , we all have little margin of error as we have 10 ticks stop loss. CL can bounce 30- ticks before a level is broken.

I am risking 10 ticks, if i can make 30-40 ticks, i am happy.

I had no way of knowing, if cl will bounce back or go straight down to 86.50 and then 86 etc..
More...


Has the bottom put in yet for the day around 85.50?

I try not to think and trade in those terms. Even tough it is hard and it's always on my mind.

2 days ago, when CL was making new highs, traders kept saying it can not go higher ( some of my friends who trade cl and are not on this forum).

Now, question on their and my mind is , is this the bottom? All, I know, i am shorting at 86.40 area and long above that. Will try long if a rapid flush comes down to 85, 84 and 83 type of levels . It will be a counter trend and i will try to book profits quickly.

I am one individual trader trying to just ride the coattails of BIG MONEY who decides which is top and which is bottom.

I hope it helps.
 
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