Second mouse lesson: See the break of the 1:45pm ET bar high? Price usually comes back to those pullback entry levels and gives you a second chance to get in. It pulled back to 109.50 if you had wanted to get long there and missed it. Not the most momentous of PA here into the close...
today if it closes with out touching 109 line , then it become one of the wired chart you should have seen FOR CL just from Visual perspective . today it moves like one of the peeny stocks with just 1 market maker is it just me or you guys fell the same ?
Yeesh, I didn't think it would break up, thought it might just ooze on over sideways and slightly up.
Technically, you'd expect it to break upside off that lower channel line support. I hate it when I'm in a position and can't shift gears fast enough to reverse. If I hadn't been short, I would've jumped on a long off that line. Late in the day, my brain turns to mush... I didn't like the initial 109.50 pullback price action entry in this case because of the 20 EMA, but I do like second mouse entries using a limit order and I almost always use a 5-tick stop unless price is really jumpy, then I might use a 10-tick stop.
DOJI are you serious talking about BOTS looking for these 1 or 2 CL contracts orders ? for close to 250,000 contracts traded in a day if BOTS need to come down to get 1 or 2 contracts stops the price it has to pay may be high. In the process of getting the stops the other Smart entries may get BUY the supply at lower price ..
EOD wasn't too bad today. 1. First long was that goon move when my chart was set to 333 tick. 2. Second long was a TL break with no volume conviction, that was just trading anxious and not waiting. 3. Followed the rules and was all good. 4. Nice fakeout to the upside, but when volume came screaming in at the high, that was a quick scratch. 5. Followed the rules and was all good.