CL Redux

[Laissez Faire]

Quote from tomahawk:

Thanks for that inventory-day analysis LF. Exactly the kind of stuff I like to analyze.

You`re welcome, Tomahawk.

It was only at a glance this morning, but I`m interested in a more thorough analysis myself looking at all inventory days for a long time back.

Missed the long side this morning and did not yet take any trades.

May reverse from here and move sideways now until the release.

If not, I`m looking at the 50% retracement of yesterday at 96,35 as a possible target.

On the subject of analysis, the recent time period I have been looking at typically offers a nice sizeable swing into the RTH close. I seem to remember that back in the day when I first looked at crude oil, it was often dead in the afternoons. Does not seem to be the case now at least, but perhaps my memory is off.

 

[Laissez Faire]

45 tick range now. Sounds just about right. Hands off inside that zone for me, I think.

Any grand calls today?

 

[tomahawk]

Quote from Laissez Faire:

45 tick range now. Sounds just about right. Hands off inside that zone for me, I think.

Any grand calls today?

Last Wednesday's RTH range was <1.00 ... smallest I think I've ever seen on an inventory day. Today it should put on a significant move by the end of day, if law of averages mean anything.

 

[Laissez Faire]

Fairly well defended this one tick higher low down here. The bulls are not coming forth yet though.

 

[Laissez Faire]

Failure at the prior resistance level at 95,90. Need to find support at 80 now and take out the HOD.

 

[Laissez Faire]

Strong reversal off 95,80, just enough to run my stop by 2 ticks. Got a few ticks out of it though.

I wonder if the current HOD will hold prior to the release. I`m inclined to believe it may do so, if not, I would probably try to position myself long if it was a "normal" trading day.

 

[EON Kid]

Quote from Laissez Faire:

Strong reversal off 95,80, just enough to run my stop by 2 ticks. Got a few ticks out of it though.

I wonder if the current HOD will hold prior to the release. I`m inclined to believe it may do so, if not, I would probably try to position myself long if it was a "normal" trading day.

you need only to exit your position 30s before the release. The 1st spike can target stops

 

[clightmarathon]

Quote from Zr1Trader:



Remember , someone else will always be bigger, I have a little chode in comparison to the big boys

I had to google what chode means...
Now I know
You guys are so eloquent

 

[Laissez Faire]

Quote from clightmarathon:

I had to google what chode means...
Now I know
You guys are so eloquent

I never got that far. What does it mean really?

I still suspect that Zr1 is a big swinging dick regardless.

 

[Laissez Faire]

Fairly balanced market here. The odds are slightly tilted to the upside for the day, IMO, but I guess it all depends on the release.

Oh, the suspense...