Trading the CL with Trading Price Action On Futures

We may talk about different setups. Attached is the chart for the descending triangle.

 

my god, traders talking about 'triangles'..in 21st century did they ever work??

 

pick a 10 or 15 minute chart and look left, you will see the support level in place.

 

Well, at least two of the winning trades of the OP involve ascending/descending triangle.

 

It is all about support and resistance!

 

Nice trading. Any reason you're not going long around 16:50 ? Looks like a resistance break then pullback.

No scaling out today ?

Thanks !

 

yes, is there any reason your not longing 1645- 1650?

 

No entries at 16:50, price was already approaching the current max daily range.

I only scale in when we have a trend trade, the trade that I took was a counter trend trade so all out at first target.

 

The second mouse gets the cheese.

As for defending a short looking at that chart, jimmiebarton, price is swinging lower highs and lower lows. Price action favors the short side at that point in time. Not until after 15:00 on that chart does price action favor the long side.

 

There were good PA illustrations on this thread. What happened? Beginner's luck run out?