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mfbreakout

Registered: Aug 2011
Posts: 1522

01-31-12 04:15 PM

Quote from mfbreakout:

Cover 99.44. will be looking for longs 99- 9.20 area.

Wow they broke 99 with FORCE.

long 98.82 stop loss 98.69. trade is off yesterday close of 98.78. CL will have to go above 99.30 to have some upward move to 99.80 area.

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mfbreakout

Registered: Aug 2011
Posts: 1522

01-31-12 04:24 PM

Quote from mfbreakout:

Wow they broke 99 with FORCE.

long 98.82 stop loss 98.69. trade is off yesterday close of 98.78. CL will have to go above 99.30 to have some upward move to 99.80 area.

Out 99.24. We have an A down confirmed. Will be looking for shorts at OR lows of 99.75 and 99.30.

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mfbreakout

Registered: Aug 2011
Posts: 1522

01-31-12 04:38 PM

Quote from mfbreakout:

Out 99.24. We have an A down confirmed. Will be looking for shorts at OR lows of 99.75 and 99.30.

Possible reason why it took 6100 cars to break 99.20 level. daily pivot of 99.05, daily pivot range of 9.12 and 99.01 were all there also. So, we really needed FORCE.

You and I not going to break that level(lol).

2012-01-31_1134poc_set_up.png
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mfbreakout

Registered: Aug 2011
Posts: 1522

01-31-12 04:41 PM

Quote from mfbreakout:

Possible reason why it took 6100 cars to break 99.20 level.

99.20 was support , now 99.30 is resistance. I will short there till taken out. Nothing wrong with 5 ticks stop loss there.

Above 99.30, 99.80 area will be short area for me since we have A down.

If 99.30 is broken up with conviction , nothing wrong with going long on pullbacks with target to 99.80

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mfbreakout

Registered: Aug 2011
Posts: 1522

01-31-12 05:03 PM

Quote from mfbreakout:

99.20 was support , now 99.30 is resistance. I will short there till taken out. Nothing wrong with 5 ticks stop loss there.

Above 99.30, 99.80 area will be short area for me since we have A down.

If 99.30 is broken up with conviction , nothing wrong with going long on pullbacks with target to 99.80

short 99.14 stop loss 99.31 . cover 98.43 ( yesterday low).

Man O man. It's days like these which makes CL worth trading.

Daily support is 97.68- 97.55. And daily close under 97.12 targets will be 9500-9400 in coming days.

Trying to pick bottoms on STRONG A down is not a good trading method. So far, we have only gotten short covering bounces. So be quick with profits if counter trend trading.

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mfbreakout

Registered: Aug 2011
Posts: 1522

01-31-12 08:00 PM

Quote from mfbreakout:

short 99.14 stop loss 99.31 . cover 98.43 ( yesterday low).

Man O man. It's days like these which makes CL worth trading.

Daily support is 97.68- 97.55. And daily close under 97.12 targets will be 9500-9400 in coming days.

Trying to pick bottoms on STRONG A down is not a good trading method. So far, we have only gotten short covering bounces. So be quick with profits if counter trend trading.

Oil Pit Close 01-31-2012

2012-01-31_1456_opc.png
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