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I'm pretty sure there's a dip off every rally and a rally off every dip. That 16 handle move down in one hour off the open had to taste almost as good as the 12 handle move up over the next 5 1/2 hours :p Having about as strong a short bias in my trading as you have a long bias, I enjoy...

Not a bad idea, except the previous shooting star that retraced 25 ticks off the high was an ominous red flag for the longs. I was watching for a short setup. Then again, I'm always watching for a short setup. I once moved my stop to b/e after 8 ticks and was taken out of a very similar...

The 11:25am ET bar low was a touch to the lower channel line drawn parallel to the upper line that connects the 9:45 and 10:45 bar highs, using the market open pivot low. There weren't enough buyers to bid price even close to the top of the channel, and what don't go up, tends to come down...

Buying? :D Picaso, I love The Onion! Here's a good one for Friday night (pizza night): http://www.youtube.com/watch?v=31JNEVHZxO8

You're right, I had days with 40 trades and more in commissions than in profits! Why are these arguments so unproductive? Have a good one!

Seems very counter-intuitive, but with-trend breakouts are a pretty high probability setup.

LOL! Can you please post a video of that strategy for those times when we've made a mess of things :p

The best setups can fail and just take the loss in stride. The thing to focus on is to trade ALL your valid setups, so that the few that fail are outnumbered by the many that work. FD, you have a decent trading edge and ought to trade every setup, win or lose. End of the week, you'll be...

You're welcome, FD. Your stupid trades can't possibly be stupider than the two I opened my morning with yesterday and they weren't sim :p I'm switching over on Monday. Good luck, FD, hope to talk to you soon.

If I was being a good unbiased day trader, I would've had a buy stop 82.66 to take advantage of the bear trap and targeted min 20 ticks. But overall the chart looked so down-trendy that I waited for another short opportunity instead.

I saw the 9:15 bar as a potential with-trend short signal with a few options for entry. One entry is to short immediately upon the close of that bar. However, the strength of buying that occurred off the pivot low and the fact that the bar had a decent green body caused me to wait. I watched the...

This kind of mid-morning action lends itself to scalping. Are you strictly reading the tape, or are you using a small time frame chart as well? I practice scalping in sim a lot with CL, using a 1-min chart. For me, it's good practice for getting early entries into what I hope will be a stronger...

Just beautiful, as always :cool:

The bar that closed at 11:30 pacific time closed @ 82.69, but CL continues to trade after pit close, so had I been in that trade I would've left my target (previous support) in play until it was reached or a reversal signal appeared. Chart is attached.

That's an interesting strategy. What I do is I have a profit target in mind, usually a break of the previous S/R level if it's a with-trend trade. So in this case the previous S level back was 82.40. It's not a hard target, it's a mental target, so I can take more if the market offers. When...

I saw it, failed b/o, got ready to hit it @ 82.86, decided not to because too near the NYMEX close and price action can get crazy at times, and, trust me, there was whining involved :p If I may ask, how did you manage the exit of that trade? I would've exited @ 82.40 had I been in it.

That is so cool! Take an early weekend :cool:

The close of the 8:25 bar is a point of control. Since price close lower than it opened on that bar, the bears are in control up to that point, however price was rising at the close of that bar. If price continues to rise and breaks the high of that bar, it's a potential pivot point for a move...

The macro trend can be helpful for understanding the intraday moves. After a failed breakout on 9/30 we finally broke out for real last week. Breakouts in ES usually run to the next S/R pivot level before pulling back. So that places 1192 in sight, with 1181 recent R as a potential exhaustion...

And price was around 1174.00 when he posted this. "EMG Post" - the only indicator that actually indicates in advance where price is going that day :D