Registered: Aug 2011
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.