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"Just Oil"

Chikot
Jul 22 2011 at 15:13
2299 posts
I have more lines in there but this channel is present too. I am banking that it gets at least to the middle of the channel to PP. to close one position and see if the second still runs where I expect. my stop is at 99.60 for both positions with entries 99.36 and 99.25

Chikot
Jul 22 2011 at 15:13
2299 posts
let's see how things will go.

Chikot
Jul 22 2011 at 15:15
2299 posts
I usually do not like and do not take such channels break outs to downside.

Chikot
Jul 22 2011 at 15:32
2299 posts
iwillsurvive
Jul 22 2011 at 15:45
47 posts
Looks like we have a hit to the upper channel.



Chikot, if you dont like to trade channel breakouts, what do you trade then? Price action meaning bounce of support/resistance, price formations (converging triangle, double bottom/top, etc) ?

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iwillsurvive
Jul 22 2011 at 15:48
47 posts
i usually wait for price to test the channel again upon breakout before going in

Armada Markets 5% discount, Axitrader $1.50 discount, IC markets $1.50 disc, LMAX 12% discount, Price Markets 5% disc, FinFX (accepts US traders) $0.7 ECN disc, Global Prime $1.50 discount, SynergyFX $3.50 discount, Blackwell Global $6 rebates - Abundance Trading
Chikot
Jul 22 2011 at 15:48
2299 posts
yep, testing it. I am not bullish anyway. not today. potential is not that big. yesterday top was 100.16. what chances it gets broken today . guys need to make $$$ and go home till Monday. waiting for failure to break.

FX Raider (FXraider)
Jul 22 2011 at 15:59
50 posts
I'm short this puppy currently off this top of the channel/downtrend line. Need it to get under 30 before I feel warm and fuzzy.

Live to trade another day...
FX Raider (FXraider)
Jul 22 2011 at 16:06
50 posts
Stopped out BE. The long was nice off that level though.

Live to trade another day...
Chikot
Jul 22 2011 at 16:08
2299 posts
stopped on BE too. it was kind of fast but bounced form one of my trendlines. still waiting.

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