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I traded that one, too. I bought .22 to .42 at the same times you traded it. I was using the 1-min chart for entry and then just locked in .20 on the attempt to break .49. The 1-min chart has been really great for these pullback entries. I didn't expect target on this trade, but I've been...

Yes, there was basing with slightly higher lows. I was positioning myself pure counter-trend earlier, both attempts stopped out b/e on lack of momentum. So I took a little break and came back, thought about trying to get long again, but waited for a test of the 20 EMA on the 5-min chart. The 20...

Fast money.

OMG, I loooove that setup!

I'd think with a triple bottom in play, the more appropriate term would be the "miassis dragon". :D

I always make sure my expected target exceeds my stop loss. I've passed on seemingly good setups because of poor R:R, which mainly occurs on counter-trend trades. For example, if price has broken out to a new high and pulled really far from the 20-bar EMA, a pure counter-trend trade can produce...

Hammers and inverted hammers (shooting stars) I consider to be pure signals, meaning I'll often just get into the trade when a bar like that closes. When they appear at extremes (at the "end" of a strong breakout move to a new high or low), they're frequently great early trend reversal signals...

About a year or so ago I wanted to test opening range breakout strategies and found that with IB's demo account I got no fills until at least 20 mins into the session, so I had to literally "paper trade" to test. This was only a problem with stocks, not futures, which actively trade pretty much...

Back when BigHog posted these things in my journal I understood them intellectually, but down in the trenches I just didn't get it at all. I thought it was stuff people read in books, but there was no real way to apply it. It took a long time to truly incorporate this into my psyche. I just...

LF, you can't just flip ANY coin, it has to be a magic coin :p

The move was too strong. I was looking for a bigger retrace, too, but when the PA is weaker than doo-doo, I recommend taking the position wherever it's signaled, because a strong move doesn't always pull back to a particular level. I watch the 1-min chart in a strong move. Look at the LH's...

The trend reversed around 12:30pm ET. Definitely trade the new trend, it's the easy route :p

Looking a little toppy there, eh?

Hey, I ain't a-scared to take a little ride back to the 20 EMA :D (I see I missed another one while I was slacking off.)

BCE, you are too funny! I'm a strong believer in candlestick charting; they reflect what the crowd is doing, where they may become fearful, greedy, totally panicked or irrationally exuberant. CL is so technically beautiful today, with the 1-min chart pretty much issuing one invitation after...

I can't answer for Fed's reason for the trade, but it's a previous resistance becomes support, one of the most commonly played pullback entries in a trend for a given time frame.

Jack is not eighty plus years of age and he assured me he's not a nut job. :D

Congrats on your first year! Also on another nice trade. There's nothing wrong with taking profit, but learn how to re-enter for continuation, especially when trading 1 contract. The way I learned to re-enter was to analyze continuation moves and pinpoint the continuation signals on a 1-min...

I see you nailed your target, too. Next? :p

I noted all the 60-min chart bar lows as possible support levels to be tested in a down trend today and also any previous pivot highs that might try to hold as support on the way down. 87.44 was the 1/28 11:00am ET bar low and 87.37/87.39 were previous pivot resistance levels from 1/26 and...