CL Redux

Discussion in 'Journals' started by schizo, Oct 9, 2009.

  1. Can you explain what the counter-trend short signal consists?

    Thanks.
     
    #9071     Jul 29, 2010
  2. NoDoji

    NoDoji

    Sure, 5-min chart: price bounced hard off the the 3:50am pivot low and had been channeling, then broke out to retest the pivot high of 77.45. The break out of the range was weak and the final bar breakout bar through the high was a failed breakout (7:30am). Failed, in that it broke 5 ticks and sold off. Failed breakouts are good counter-trend signals.

    Also, there was a downside failed breakout on the 8:35 bar.
     
    #9072     Jul 29, 2010
  3. Thanks a lot.
     
    #9073     Jul 29, 2010
  4. Picaso

    Picaso

    I've noticed that over the last few days every time that gold starts tanking out of the blue (while ES and EUR hold just fine), oil tends to follow suit.

    Maybe this is related to commodities' ETFs?
     
    #9074     Jul 29, 2010
  5. Good to know, another thing to know is, yesterday ES didn't hold and we have a very bearish report on Oil,,...........and hold above 76.50, and close at 76.84.

    Today Euro is attempting to break a big Resistance point to the 1.31, (which probably will affect the dollar), and the ES is in positive.

    I'm going to be looking at a spike in Oil today.
     
    #9075     Jul 29, 2010
  6. Picaso

    Picaso

    Nod, I hope you caught that bo :)
     
    #9076     Jul 29, 2010
  7. short 78.13
     
    #9077     Jul 29, 2010
  8. beautiful
     
    #9078     Jul 29, 2010
  9. i love it when oil moves right after 9:30, sometimes it's clockwork
     
    #9079     Jul 29, 2010
  10. gobar

    gobar

    look at the chart all kind of signals
     
    #9080     Jul 29, 2010