The Top of Oil

$108 early 2008.
$200 early 2016.:eek:
Just kidding.

 

The QM had a spike up after my final entry to 95.775 followed by a small pullback to the 95.00 area..moved my stop down to 95.80 from 96.20. Stop was hit at 95.80 and my overall trade running from yesterday to today came to roughly breakeven. I will look for new entries as signals appear.

 

Thanks for your honest posting Bro!
I still have a bic lighter on my nut sac in CL.

Tommorow is another day.

el surdo

 

I think this moves have legs until 97/98, then with everyone thinking on $100 it will fade on his on weight on profit taking and any excuse to sell.

Who knows if we are at top levels, im just talking about short-term (2-4 days)

 

when it comes to oil the only top i want to guess is the one i'll be wearing when i wake up

 

No problem..this is actually a great challenge imo..very different from the type of trading I am used to (since I rarely trade oil). I had another signal, this time on my 60 minute chart..I have entered 3 lots at 95.85 and I will risk up to 97.15 with my first target at 94.05 (just above the previous high from the other night).

With a 60 minute chart based signal, I have additionally started an accordion short trade on the QM with orders initiated at 95.80 . This is a totally different strategy which I will trade in a zone between 97.80 to 93.80 . Price above 97.80 the system is shut down with a loss, price below 93.80 the system is off and I will remaining holding my highest two fills until I get a LONG signal on the 60 minute. This is a completely separate strategy which I have been trading for several years..some day I will have to make a video of the system in action.

 

You may need to start trading with a tambora or a surdo!

 

Surdo - Looks like a SHORT oil party!!!

I had my 94.05 profit target tagged and my Accordion zone target tagged at 93.80, so the accordion is off (racked up some good profits last night) and I am holding short my two highest fills. I will hold these two contracts until I get a 60 minute chart buy signal or they stop out at b/e. My position trade entry at 95.85 has the next short target at 92.55 .

 

I just covered 1/2 of my position @$92.35........moved stop to $94.5 on balance.

 

92.55 target was tagged and last target on position trade is 90.05 . 2 accordion Short positions are still in until a 60 minute chart Long signal..

Good trading Surdo..you can put your lighter down now