Never underestimate the ability of CL to do the last thing you expect it to do. I will admit, this is the first thing resembling a pullback since the channel break.
its getting to the point where you could just barrel it up and ship it across the atlantic for the premium
tzachi, use hard stops and soft targets. As each level breaks, trail a stop (such as just above previous 3- or 5-min bars) and let the market give you as much as it's offering. If you exit at a key level and then the move looks like it still has steam, get back in (like you did). I use the 1-min for re-entries and had one additional re-entry on that move down as it came back to the 86.06 low. I also used the 1-min chart to choose a 12-tick stop, but the breakout was so fast it didn't matter. You're not trading to avoid losses, you're trading to make money. I don't know how many times my mentor told me all this before I finally spent enough money trading badly to finally get it :eek:
ND, thanks. I use the hard stop for emergency only. I still working on the trailing stop and think too that its the right wat to go.