$11,500 Day Trading Crude Oil (CL) Market

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Good Trading,

David "Tiger" Knight

Crude Oil Double Bottom Failure at Major Support for $600 on every 2 Contracts

Click on chart for a larger image of the Crude Oil Short Trade. This is a trade that continued it's downward pressure below the $60 per barrel level today.

Now, applying our fibonacci tool today we saw that our high and low of the market, and a possible retracement figure around 60.38.

The 11AM trading bar gaves us the best signal as this was the bar that closed below the double bottom for a nice entry short in Crude today.

How far does crude continue to fall? I watched a video giving 59.50 as a level today ... videos are worth the grain of salt they are worth as a forecasting tool. Although, have a plan to trade that video is what is important right? That is to make money from it correct?

This means this week that I pulled out over $2,000 from the Crude Oil Market ... not a bad 2 day week.

Good Trading,

David "Tiger" Knight

P.S. I will be making a youtube video on this trade I hope by tomorrow as time permits.

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July 2009 Book Recommendation

A Warrior's Prayer -- "Lord, grant me the the physical strength to face this risk with poise and confidence, the wisdom to accept the losses I might incur, and the spiritual faith to see that whatever happens is for the higher good!" -- from the book

Good Trades,

David "Tiger" Knight

Nice Short Trade in Crude Oil for $1700 on every 2 Contracts

Click on Crude Oil Chart Image for a larger view of the trade. This was one that required a little bit of discipline and patience.

Good Trades,

David "Tiger" Knight