Is it just me or have things seemed very orderly this week. It almost starts to make me feel not afraid.
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I have not had a losing trade this week. However, my problem is determining how far to make my target. Just now I made money on a scalp. If I held it longer I would have lost money since it came back. Also, I need to remember not to over trade so I can continue to take just good trades. I liked how I did this morning. Although I missed a long, I still took time to draw my lines and think about where the market was going and to confirm my entry with candle patterns.
Just sneaking in here for a minute. From the EIA report: U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.0 million barrels from the previous week. At 334.6 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 3.6 million barrels last week and are above the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 4.0 million barrels last week and are in the middle of the average range for this time of year. Propane/propylene inventories decreased by 0.9 million barrels last week and are in the upper limit of the average range. Total commercial petroleum inventories increased by 9.4 million barrels last week. Hope everyone had a good day.
Does any of you have a reading of this morning's parabolic upward move? short-covering? stop-running? need some big money to do that.