CL Redux

Yeah, the trend appears intact here, hit its head right against the 20.

 

broke below upper nip, filled cleavage , it either retests upper or moves to lower,so far retest upper, if it doesnt break above it will retest cleavage,if it doesnt hold it will test lower nip, there are a couple ledges beneath the cleavage for temp supp ...the lower nip is wider which makes it a stronger magnet

 

very complicated


i say its all about buying dips here

 

Got the higher low put in. Two-leg pullback or intraday trend reversal? A break through 82.99 would be good for the dip buyers here.

 

SIM
As many of you have good day today , I too join that group.
Net + $ 517
total trades 21 ( many of them BE ), I need to stick to my original direction and only bring stop to BE if I get reversal signal. I have to work on this, most of my trades end up BE after 10 ticks in favor ( I may not be taking high momentum price points so PA needs some time to go to my target and I get anxious so bring it to BE )
Also I had tough time getting in Pullback in the stromg down move, need to work on that too.

 

more of a road map,if it takes this road where does it go?the stop signs are marked

 

Out 2/3 at .90, had posted add at .35 as well

startraitor


Registered: Jan 2008
Posts: 2436


10-14-10 01:10 PM

add .55




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Quote from startraitor:

long .95

 

personally I like smaller nips!! Closing at 83.20 that is my useless baseless prediction

 

Nice job, NE. After today I'm really rethinking my "stop to b/e" strategy. If I'd been very aggressive doing that today, I might've avoided my early losses (which were really dumb trades), but I would have cut off all my good trades and had very little to show for the day. Today for the first time I had a profit that was in line with my daily bar-by-bar analysis, where I let my stops and targets remain in play unless a strong reversal signal is put in and it was amazing to experience how well it works when you trust your setups and your trade management rules.

As for joining a strong move, drill down to a 1-min chart, watch for the small pullbacks to a 20-bar EMA on the 1-min chart. Often it acts as a mobile S/R level and can help you jump into the move with a low risk stop. I have a lot of trouble doing that so I try to position myself early on whenever possible.

 

Nice trading today ND. I know you have been working on taking/following all of your setups for awhile now. Great job!