CL Redux

That ascending triangle has a breakout point in my chart at 75.59, having said that, I will be a little careful of been long, specially today, my gut is telling me that the EIA report today won't match the big drop in Oil (more than 7 million barrels).

Something that has work for me as a breakout strategy after the EIA report is take the range of the next 15 min after the report, in the direction of where it breaks after that has been the direction for the rest of the day, in the last 5 out of the 6 reports.

Good luck to all of you today.

 

GM guys and gal

I'll reply l8r

10:30 natty

11:00 crude #s

 

Sim long 75.68 .25 target, .15 stop.

 

A suggestion: plot that target and stop on the chart and see if you want to reconsider them.

 

Stopped out. Was hoping for more of a pullback to rejoin the trend.

 

Just curious, what are the trading hours do most of you trade?

I was thinking of starting early around 8AM EST. CL appears to have some good setups between 7AM to 9AM EST. There was a good pullback trade today around 8:55AM.

 

I'm usually here by 5am PST, but frequently miss good trades because I'm answering emails and other crud. Today was a good example of that, with that trend resumption at 05:25 PST.

 

I know what you mean about emails. that is how I start my day. clearing spam emails about yet another otc viagra offer and not focusing on the mkt.

I am so used to trading stocks and index futures that I have a brainlock on 9:30AM to 4PM EST.

If I could ask a dumb question. so QM is all electronic, but CL trades both electronic on globex and in the pit. So if I place a order at 10AM EST when the pit is open, how does the order get routed? is it filled electronically?

years ago, 10 years ago, I traded crude oil a few times and fills would take 2-5 mins to get back on market orders...


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Light Sweet Crude Oil Futures
Product Symbol CL
Venue CME Globex, CME ClearPort, Open Outcry (New York)
Hours
(All Times are New York Time/ET)

CME Globex Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)

CME ClearPort Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)

Open Outcry Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT)

 

Put this on the wrong forum:

Sim short 75.50. on break from trend line. Stopped out at 75.60

 

good morning crude traders!