Scratched longs of 50.20. Waited for OR to be formed and then longs off ORL. Mark Fisher tells me to do so. As a RULE, i take some off on first test of ORH- which is around 50.19 area.

Waiting for $ to HOLD up and up move. In other words sitting on hands for CL and short GC from 1214 area.

It's difficult to imagine ( at least for me) that CL can test yesterdays low but as day is progressing and my brain is getting rid of yesterdays PRICE ACTION, i am getting back to reality and have taken off my bullish sentiments till REAL buyers show up.
Just because yesterday CL moved from 49 to 51 without any significant pullback does not mean it can not over shoot to the down side either. Tough day so far in terms of defining RISK for a trade.

I have seen it 1000's of times.

mfbreakout 

It's difficult to imagine ( at least for me) that CL can test yesterdays low but as day is progressing and my brain is getting rid of yesterdays PRICE ACTION, i am getting back to reality and have taken off my bullish sentiments till REAL buyers show up. Just because yesterday CL moved from 49 to 51 without any significant pullback does not mean it can not over shoot to the down side either. Tough day so far in terms of defining RISK for a trade. I have seen it 1000's of times.

Where was the SMART MONEY today? 5% move yesterday and 6% today. I got sucked into the hype of CL this and that BS. Instead of following my regular PRICE ACTION method, i had some pre conceived notions based of yesterday's PRICE ACTION.

#1) Long 50.20. At this point i was a BULL with 10 horns (lol). Scratched it.

#2) Long 49.54 area off ORL. Took some off 50.10 area and gave back all the gains on rest.

#3 ) tried long again 49.44. Too much size. In hole now .

#4) Took a break and had to get out of SMART MONEY BS. After lunch short 49.44 area and added to shorts 49 area. Stop loss on runner is at 48.71. Trying to see if sell off Volume into close is sign of exhausation or continuation. Just like yesterday into close. Lucky to be ALIVE today.


Bulls can not get a so called rally going for more than a day. Same story getting played out for months now.

@mfbreakout

I feel your pain

The Globex started out so-so for me, then I flipped on (little did I know, counter trend) the scalping/ mini-swing hat long and short.

I finally figured out it was short all day, meaning look for nothing else

Got frustrated and about 1306ET slapped on short 2 paper contracts at 4908 and walked away, said to hell with it

Only to come back around 1430 and say Holy Shit Batman



-Bill

WilleeMac 

@mfbreakout I feel your pain The Globex started out so-so for me, then I flipped on (little did I know, counter trend) the scalping/ mini-swing hat long and short. I finally figured out it was short all day, meaning look for nothing else Got frustrated and about 1306ET slapped on short 2 paper contracts at 4908 and walked away, said to hell with it Only to come back around 1430 and say Holy Shit Batman -Bill

I do not do anything as far as trading CL and GC goes without US $

long CL @48.90 off weekly support S1 and the Open. looking for 51 ish area

....got it completely wrong yesterday, my mind got paralyzed and missed what crude was speaking

Johnny

today is the last day for trading in February....could we see crude rally?


Johnny

price in balance around the week vpoc