Sorry, I was with Delhi Belly... Rising EMA, key level at .25, stop to get long at .26 - no more thinking and give me the keys!
I have to say today was one of my best real money trades. I waited for confirmation on both indicator and price action. After I set stops and targets, I left trade alone and got a swing profit for this long trade. Also, I said to myself, I would only do this one trade today either I would win or lose, no over trading. My risk vs reward was also not bad for this trade. Some of my previous problems have been over trading, and averaging down on a loss. For example on ES, it would get close to my stop, so I would add another contract, and bring stop down, and yes, the market would then go to that next stop level. Also, on ES, I had a bad risk vs reward. I would be doing 2 contracts, both had 2 point stops, but the 1st had a 1 point target, and 2nd contract was set so that if 1st hit the one 1 point target, my stop was now BE for the 2nd contract. However, many times on ES, you could have the market go up 1 point, come back down to BE and then go up the remaining 2 points. Also, this seemed to cause the risk to be $ 200, and the reward many times to be $ 50. Even if both contracts did hit target, then the reward was not even equal, it would be $ 150 reward vs $ 200 risk. This is not terrible if I had over a 80% win ratio, but I don't have that high of a win ratio. Now at the very least I look for a min of equal risk vs reward, and if everything looks good like today, I will try for a better reward than risk.
I went directly to your source oraclewizard and asked the crystal ball, "Will CL hit 100?" for Star. And this is what it said. http://www.e-tarocchi.com/crystalball/index.php
Needless to say, thanks to everyone for the kudos. This market hasn't been too kind to me last month so today's bounty is a bit of a boost to both my confidence and the bottom line.
On most days CL offers many swings to trade in and out of, with reasonable profit targets 2 or more times the risk. I think for us small retail traders, there are way more opportunities trading CL than ES.