Jump to content



Photo

Crude Oil Looking Tired Again


  • Please log in to reply
1 reply to this topic

#1 hedgehawk

hedgehawk

    Member

  • Traders-Talk User
  • 1,022 posts

Posted 12 April 2008 - 08:58 AM

Crude looking tired again, this is where the action is at folks. Good risk reward as well cuz of the volatility if you get on the wrong side chances are it will revisit that entry point again to let you out flat. I included my P&L for the last two weeks so you can see that making money trading crude on the short side only during this "uptrend" is possible cuz I am doing it. Much easier to trade than the ES right now. I dont think Crude can go much higher and it is a long ways down from here. Will keep selling the upthrusts until it stops working. Went short on Friday close there is risk of a gap up Monday but will watch it sunday night for any sign of strength or weakness. I think Fridays closing blip was short covering we will see. The CCI has been the best indicator besides price and volume to establish short positions............so got to follow my indicators.



Posted Image

http://stockcharts.c...7098&r=2434.png

#2 hedgehawk

hedgehawk

    Member

  • Traders-Talk User
  • 1,022 posts

Posted 12 April 2008 - 11:21 AM

I meant to add that I am looking for an upthrust and roll over on a lower high......... looking like the move on 3/31.