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I have some R levels in play if price returns to near the HOD - 86.08, 86.52, 86.88, 87.30, 87.70, 87.90, 88.11 S levels are all pretty clear, since we're near lows

Bigger picture, daily chart. previous long term up trend line broken and became resistance. Support established to the tick of the lower channel line yesterday in the down trend.

Right, I'm a technical price action trader, so there's nothing about my trading that hasn't already been taught in books and seminars for years.

You PM'd me and I replied and you never responded. I will give you the Holy Grail of trading. I will dare you to drink from it.

That depends on whether or not you recorded our conversation :D Absolutely spot on. Never happened to me either. Ever. Even if you knew nothing whatsoever about trading, you'd have to be total idiot to trade like that. (Excuse me for a few moments while I apply salve to my old burn scars.)...

85.51 was great short entry and the expected move was to the lower channel line, which would've been a breakout of the LOD (and MAJOR support, which would be expected to take price straight to 84.67). So you either leave a stop above previous R (85.79) or you scratch the trade and re-evaluate...

I agree, it's good to get in the habit of letting the market prove your thesis right or wrong. There are some situations where maybe you want to exit quickly, like a momentum play that stalls right out of the gate (failed b/o). Just get out and re-evaluate. But a standard trade setup like...

From the chart it looks like you shorted after price broke the LOD and formed the inside bar. It looks like that initial break was where you should've shorted and either bailed when it failed to follow through, or at least bailed when price came back to visit there and failed to break. I may be...

You should make a decision whether you are scalping for 10-15 tick gains or whether you are trading off a 3-min or 5-min chart for price swings. If you're trading around the 3/5-min time frame for price swings the only reason to take a profit less than 20 ticks is if a valid stop-and-reverse...

There is no pullback entry signaled on my 5-min nor my 3-min chart. I do see the possible entry on the 1-min, and it made sense to stop out close on the failure, because then the 20 EMA on the 5-min was in play as an initial price target. 85.13/85.11/85.10 was a powerful floor, having been...

Also, we don't believe you had 10 losers in a row this morning. We believe it was a shameless attempt to get us to feel sorry for you and send you Valentine's Day chocolates :p

You got just part of the story! NFLX to buy CME, SBUX, GMCR, POP, and CORN! Shortie, take my hand as we BUY EVERY NEW HIGH! :D :D :D

You make an excellent point. A great way to cement a new concept you've learned is to teach it to someone else. I kept a journal here for some time and also posted very frequently even after I closed my journal. The act of writing answers to questions, or asking questions of other traders helped...

Are you insinuating I was actually suffering from symmetrical triangulitis??? Pah! OK, outta here, make some money!

EDIT: I have to step away from my desk for a little while.

OK, I sat with finger on the mouse to short .70 and hesitated. z is having a bad influence on me...

Seriously, even if you chop yourself up trading CL, there's an excellent chance you'll catch an actual price trajectory and make some money in the end.

Price sitting directly on the flat 60-min 20 EMA

Damn, if I only traded ES I think I would've chewed my arm off by now, trapped in that range :p

Great entry on that trade, that's where I normally enter a trade. No idea why I hesitated to pull the trigger :D :eek: :D EDIT: On a long @ .73 I'd have locked in 20 ticks profit when price hit previous S zone (86.01) and stalled, because the former uptrend had reversed and that would be a...