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CL Crude-nalysis
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CL Crude-nalysis

  #1 (permalink)
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CL Crude-nalysis

It seems like there are so many CL traders around here, but not a good general place for people to post charts, analysis, trades, fundamentals, pre-market outlooks, higher timeframe stuff, etc for the crude oil markets.

There are many good CL traders here on futures.io (formerly BMT), and I hope for this to be a good place for them to circle up. Some things are more appropriate for personal trade journals, such as specific psychological/mentality things, but this will be a good place for traders from all styles to share ideas and analysis for CL in general.

If you're going to post a trade please include a chart and rationale for the position.

Trade well!


Last edited by indextrader7; August 15th, 2014 at 02:08 PM.
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  #3 (permalink)
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Looking at a daily ETH chart (continuous, back-adjusted) with a good bit of data on it:

Crude has been in consolidation really since coming down from it's crazy 2008 spike and fall. Since 2011 it appears we're forming a wedge, with ranges narrowing. We tagged the top of the wedge in June of this year, and are currently selling off towards the lower end.

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Pretty basic stuff, but it doesn't hurt to throw this out there to start the thread off.

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Some thoughts on today.

I suspect we could be range bound today after yesterday spike down and price consolidates its losses. A little bit of a nearer term chart for starters today as @indextrader7 already took care of the macro view.


I have 96.00 as a possible upper containment area.....we will see as the day goes on....but I've already taken my first profits today and am just managing the runner for now.

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EDIT:

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EDIT:

And this is why I am not given to making many forecasts....it did break through the 96.00 zone and is now headed toward the 96.40 zone which is the 50% pull back on yesterdays drive down and a logical target for the runner....which by the way I took off because I thought it might range today from the 96.00 area down to the LOD. Wrong again.

Have a great weekend....

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Last edited by PandaWarrior; August 15th, 2014 at 10:57 AM.
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I am predicting a break through the 96 level. Has already been a little attempt but I believe the next one to carry more conviction. Yesterdays down spike proved very worthwhile for me, hit a 60 tick target in 1 second. In light of that there must be some serious money on the down side so we may see some consolidation before a further move down.

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and there it is.. Don't you love it when you miss your entry to the tick!

 
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Skinchin View Post
and there it is.. Don't you love it when you miss your entry to the tick!

Well you didn't tell us where your entry was so we have no idea what you're talking about.

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Roll is near mates.

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I was referring to the break through the 96 level. Entry was at 96.04 at the re-test but didn't get the fill.. next one is at 96.18 on re-test

 
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Tried a short around 07:30 at 95.73 at upper end of balance from 14:20 onwards yesterday with a tight stop at 95.81.

The b/o up from that balance gives a target of 96.16 - 96.43.

Not likely to trade it again today.


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