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Crude oil 7-29-10


Good morning...selling right here at 78.42
7852-7869 >>> 7896.5 but 20 ma on 1 min should be tough on such a trend
I see the swing hi-lo where you get support around .68 but I thought your rules stated that swing high was invalidated once price touched it.Could you explain? Thanks.
Crap KB. You may have to quit your night job!!! :-)

Originally posted by koolblue

one min 1.618=77.80..2.618 77.97? trying to exit around 77.90 or so
Yipee!!! out at 77.90! plus 22 more cents
great trading Kool. Please see my 12:12 post,
as you now Einstein , i look at other charts but maily the one min for trading ...hopefully this one answers your question!...
Click image for original size
971
fwiw... my guess now is higher, probably 78.26 next stop?
gotcha! last major swing high before that descent with prc confirmation. Thanks. was looking at the wrong swing high
Originally posted by einstein

gotcha! last major swing high before that descent with prc confirmation. Thanks. was looking at the wrong swing high

no prob friend, just remember... im not always right! After all it went well below that 77.67 and almost hit my stop! COULD THAT MEAN LOWER LATER? At this point i usually go back to my 5 and 13 min charts and look at entire initial moves..just in case!
note also on exits.. even tho my work showed 77.97 at least i exit a little early .. just a safe habit of mine
a good long term investment