This obviously applies too to when it's selling off and we're short and it's testing some whole dollar support level. But of course a lot of times it does bounce off of whole dollar support levels and doesn't penetrate it much at all or doesn't break through on the upside and it can bounce or selloff quickly.Quote from BCE:
Just a small point that I was thinking about yesterday while looking at this chart. This was obviously a nice trade, but I did leave a little over $200 on the table. When I took my profit I wanted out before it sold off and disappeared. So when it stalled out @99.00 and then retreated slightly and started back, I thought it would stall out again and selloff this time. So I took the profit. Next time what I'd like to do when it's testing a whole dollar amount, especially a second time, on it's way up after a significant runup is just use a stop instead of closing the position. That way if it does selloff I'll get my profit. But if it continues to climb another 20 or 30 ticks, which is quite common too, I'll get the extra profit. Just some fine tuning.
CL Redux
- Thread starter schizo
- Start date
I can see CL colapsing back to $75-$80 from here in the next couple of months, looking for an entry.
EU Iran sanctions: Ministers adopt Iran oil imports ban
http://www.bbc.co.uk/news/world-europe-16674660
European Union foreign ministers have formally adopted an oil embargo against Iran over its nuclear programme.
The sanctions involve an immediate ban on all new oil contracts with Iran, while existing contracts will be honoured until 1 July.
Tehran denies that it is trying to develop nuclear weapons and says talks and not sanctions are the only way to resolve the dispute.
The EU currently buys about 20% of Iran's oil exports.
Meanwhile, the International Atomic Energy Agency, the UN's nuclear watchdog has confirmed it is sending a team to Iran between 29 and 31 January "to resolve all outstanding substantive issues".
Last November the IAEA said in a report that it had information suggesting Iran had carried out tests "relevant to the development of a nuclear explosive device" - sparking the decision by the US and EU to issue tougher sanctions.
Earlier on Monday, the Pentagon said the US aircraft carrier USS Abraham Lincoln, as well as a British Royal Navy frigate and a French warship, have passed through the Strait of Hormuz at the entrance to the Gulf without incident in the wake of Iranian threats to block the trade route.
'Substantial impact'
Under the new deal, EU governments are expected to stop signing new contracts with Iran when the ban comes into place - which could be as soon as this week, Reuters news agency reports.
All existing contracts will have to be phased out by 1 Jul
http://www.bbc.co.uk/news/world-europe-16674660
European Union foreign ministers have formally adopted an oil embargo against Iran over its nuclear programme.
The sanctions involve an immediate ban on all new oil contracts with Iran, while existing contracts will be honoured until 1 July.
Tehran denies that it is trying to develop nuclear weapons and says talks and not sanctions are the only way to resolve the dispute.
The EU currently buys about 20% of Iran's oil exports.
Meanwhile, the International Atomic Energy Agency, the UN's nuclear watchdog has confirmed it is sending a team to Iran between 29 and 31 January "to resolve all outstanding substantive issues".
Last November the IAEA said in a report that it had information suggesting Iran had carried out tests "relevant to the development of a nuclear explosive device" - sparking the decision by the US and EU to issue tougher sanctions.
Earlier on Monday, the Pentagon said the US aircraft carrier USS Abraham Lincoln, as well as a British Royal Navy frigate and a French warship, have passed through the Strait of Hormuz at the entrance to the Gulf without incident in the wake of Iranian threats to block the trade route.
'Substantial impact'
Under the new deal, EU governments are expected to stop signing new contracts with Iran when the ban comes into place - which could be as soon as this week, Reuters news agency reports.
All existing contracts will have to be phased out by 1 Jul