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That's better :cool: ADD: meas move tgt 99.56, very close now

It's volatile but in the narrowest range I've seen. We've had 1-pt post-inventory ranges back when the price was in the 70's. This is silly.

Near term long targets: 101.64 101.86 Measured move breakout target: 102.47 Above that 102.80 Or it could retrace the entire move :D

I won't argue with this, but there's one exception: The Wed crude inventory report You can test this over time and you will find a pure trading edge: Sometime during the 10 minutes before the crude inventory report you put on a long or short position. It doesn't matter which. The only...

Oh yeah, I firmly believe "Anything can happen", and I'm willing to let the price action show me the money, so to speak :) I admit that when I put on this trade I was a bit giddy about the potential. But then, when I chased the earlier long entry I was just as giddy and the trade smacked me...

The extended, wide, sloppy bull flag with the fbo that shook out the weak longs looking for solid support at previous resistance got me very much wanting to be long. I thought it would happen earlier when previous R seemed to act as S and price was approaching the last high; I bought nearly a...

CL is the best contract to trade. Price moves a few ticks off every possible level you can think of, meaning that even if you have no idea how to trade, you can just buy a support level or sell a resistance level with a 3-tick stop and rarely lose more than 4 or 5 ticks with slippage, but every...

I made the same mistakes so many times, I began do doubt my sanity. I've read MD's book 3 times cover-to-cover and it's next to my bed so I can read the basics every night and every morning. These are the days when you will make mistakes, sometimes many times over, and finally you'll get so...

If you calculate based on levels that a majority of traders use, it's rather amazing how well it can work. You definitely want to look at channels (flags) following a strong push, especially if the trending move is young. Counter-trend shorts may set up, but if they fail, be ready to enter in...

Had a good laugh here because my first trade of the day I saw the early bird setup on the 1-min and 3-min chart, hemmed and hawed about it, then saw the nice confirmed setup on the 5-min chart and thought, "Naw, the bar's too big, stop too wide...", the price started moving and what did I do? I...

I like the anticipatory entry because although the probability is lower, the stop is tight; it works or it don't! I'm starting to use the anticipatory entries more often. It requires a sort of blind faith, but the entries on trades can be spectacular when it works. :)

Seriously! If you shorted and then used the "emg+4" strategy to cover and reverse, you were guaranteed the fill for a nice 2-way trade :cool:

Break of 9.50 here would be the first thing resembling a long signal all day.

My max stop is 20 ticks, but I had 21-tick loss on a trade last week with the slippage.

YOU are setting your sights waaaay too low! I have a challenge for you tomorrow: Extract 40 ticks out of a CL trade, even if it takes 10 b/e trades to do it. Extra credit challenge: If price breaks your 40 tick soft target (no hard profit targets allowed), lock in 20 ticks and then see...

It tends to provide S/R more often than not in a trend within a given time frame. When it breaks in a trend, savvy traders consider the break a potential bear trap/bull trap and will initiate or add to positions in the direction of the trend as long as price action invites an entry and the...

Where did you go long off this pattern? The "faith-based" anticipatory entry: 1319.75 The DB early confirmed entry: 1322.25 The fully confirmed entry: 1323.75 What's the rationale for these long entries? And what was/is your profit target? (This will be different for intraday vs...

In an uptrend I look for support at or near the 20-period MA, but I put on the trade when price breaks a previous bar high after price appears to have established support there. The 20-bar MA is a frequently-used mobile S/R level in a trend. If price a) finds support above it in a strong...

ES runs both ways. The reason it bounced so nicely off the low is because 1298 was the trend line touch and when buyers stepped in ABOVE the next support level to be tested (1291.50) and bid it up to close above the trend line, that means the trend is intact. ES has been in a long up trend...

I think it depends on the psychology of the trader. I traded 5 and 6 contracts CL and consistently cut my winners short. I focused on trading 1 or 2 contracts and letting winners run to target and became very comfortable holding small size for targets. I feel that no matter what crazy news might...