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Yes! Offer at the 20 EMA with a really tight stop (.10). If it works, target the previous S levels. If it doesn't work, you're only out 10 ticks. How cool is that? ADD: That 100.30 EMA touch was also previous S (10:50am ET pivot low) becomes R. Confluence on the trade.

That IS f*cked up! Ha ha :p Price is trending up off lows, no short signal yet, patience, patience! Look at a 5-min chart and ask yourself if it's time to be short yet. No, not time yet. Be long or go have tea and cookies :D

I exited based on price action, but I was afraid to jump back in when the fall resumed because that stall at bid/ask confused me. I was confused! I hate being a confused trader! :p

I had just closed a short before that happened. Wish I'd held it, didn't get back in :mad:

LMAO!

WTF?

The information in his book is excellent. The editing, layout, and microscopic charts make for a very difficult read. Also, if you don't have a few thousand hours of quality screen time, you'll feel as if you're trying to understand a foreign language. Start at the end of the book where the...

Thanks! I swing trade equities in some retirement accounts and I day trade mostly oil futures and some ES. I occasionally watch silver for amusement purposes only; I would never try it at home. :p I posted on the BAR BY BAR thread recently something regarding this: "The environment...

Price support (S), price resistance (R) and the ability to draw trend/channel lines off S/R levels are all you need. Any naked chart (candlestick, OHLC, line) provides you with this. Trading in the direction of a trend is where the easy money resides. Although with-trend signals fail, the...

I would like to add that I think this thread is by far one of the best I've seen, not only for CL but for trading in general. solid concepts with charts so everyone can learn to recognize the patterns in real time ("I see live triangles....") :cool: All setups fail no matter how great, but...

Clear as a bell, I was watching the same price action unfold. Once you've played these enough times, you'll capture much larger profits. As for getting stopped out below .21, if it had stopped you out, be ready to get right back in on ANY sign of strength at 99.11 or above (lower TL). Below...

I have to love this entry because I was also long @ 99.37, looking to be positioned early for a for a triangle breakout (break through 99.50) off those bullish dojis that kept bumping against the 20 EMA. Because the second pivot low was higher than the pivot low from the pit open, I expected...

I was trading longs in the 30 minutes leading into that resistance zone, following the failed final flag on the 1-min chart (which set up between 9:15 and 9:18am ET). During my long from 99.46, I was targeting a break of 99.96 resistance (which, as you noted, was also a previous S zone). The...

Most of the ideas are easily adaptable to larger time frames, and he uses examples from larger time frames in his book. I have over 100 spreadsheets over a 10-month time period that defined and refined high probability setups and trade management methods for the instrument I trade, derived...

The trades are winners because price action trading using basic technical analysis works. Also notice that the risk on each setup was significantly less than the initial profit target. Frits, how would you have traded BIIB on Friday, using the initial 5-min bar as your starting point...

Hey, I like totally got that, ya know, and I'm blonde, too :p Before this Mother goes and has her Day, one final analogy regarding those who provide trading education and whether or not they're profitable traders: If I pay $50 for a big box of high quality tools worth $1000 which will...

Logically, if I developed a set of rules for trade entries, protective stops and profit targets, and I can take any price chart in my time frame and apply those rules to the chart, day after day, for months on end, through bull runs and bear runs, through trend days and choppy range days, and...

If I have a life-threatening illness and I choose to participate in a clinical trial of new drug treatment, I fully recover during the treatment, it's been two years since the trials, I'm healthy as can be and lab tests show no evidence of disease, yet during the trials I was receiving a...

Here is one of many "hows" I've posted on ET. This one is designed for consistently losing traders who believe stop hunters are out to get them and it's all because of HFT: 1. You feel a trade coming on. 2. You can't wait any longer. You figure out where your stop loss will go and you're...

You got that right. A writer's lucky if a New York Times bestseller nets a low six-figure return.