CL Redux

Nice to see most have been making $ on the CL.

I wondered which trader would be courageous to takie longs.
for some reasons , many more shorts . mmmm shopster might want to comment :)

There was a time where I learned that being a coward in trading can improve your bottom line.


Having just woken up, here is my view on CL:
after the 3 legs down, that actually really look like the pictures I have on what is Elliott wave 123, we are supposed to have a kind of abc or something like that, aka , some ranges. let's wait and see if we start to see the range.

People say fortunes are made and lost on CL.
This will be my instrument of choice for the fantastic results I am shooting for. Someone is motivating me back - just on time - after a slump. Let's just keep getting used to CL. And get to this goal.

:) :) :)
 

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Nice play V! I was thinking about you when I was at the vet today wondering if you stayed all in or not. Today was one the prettiest I've seen in a while and all my tools and my gut are shouting 94.50, 200 day 100 day and lin reg from the 114.83 high to now are all right around there. Daily MP telling me 92.50 to 90 is in the cards. With the stupid jobs report I figure we can see a bounce up to 97.50 anything between 97.50 and 99 I think I'll just watch and above 99 is long.

I still have one 94 put left and am gonna let it ride.

Gizmo has bladder cancer and is most likely going to end up a stuffed animal in my office.:(
 
I have really zzzz very well . who manage to create this beautiful miracle. :).


CL: ranges for 8 hours. in a what they call a "flat flag", aka final flag.

According to patterns ( I have started to read the book1 ), it should reverse the move, here we should have an upmove.

ElliotWave : we should now be into abcd patterns. These will break the trenchannel line. So we need to wait for the channel line to be broken.

candles: alternating red/green/red/green.

Big move in view. The question : Up or Down. :confused:

No idea. May be I am still a bit asleep. and that is OK. :).
Actually, some very very good acd traders pointed out many prices just below : could these prices act as support price . So that we could get a breakout down. Stopped there and then an upshoot?

Or someone could be so desperate - and is forced to sell, breaking these huge 3 price levels and from there, oil tanking like it was cheap polluted sea water. mmm what about the producers then?
With all the latest turmoils in oil producing countries about expensive energy, mmm this would be interesting.



==> There is at least a "luck" trade : sell stop order below the lowest price level. stop above the upper price level between the 3 price levels. This is a trade to hold, not a scalp. So whoever wants to try it, use a very very very small trade size , as in trading one never knows. :) And of course, it might take some days for the luck trade to manifest itself.

Let's keep getting ready.
 

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GM :)

They just said on the radio that NASDAQ was near an 11 year high.

I see CL pulled back while I caught a few more winks.
 
02/03/2012 08:30 *DJ US Jan Nonfarm Payrolls +243K; Consensus +125K


02/03/2012 08:30 *DJ US Jan Unemployment Rate 8.3%; Consensus 8.5%
 
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