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EON, we were counter-trend buddies on that one! I longed .67 and sold .87. Silly us...

Thanks for your kind words. The daily chart was ugly and indicated an easy slice through 1037 if that 1037.50 could be breached, but there must a big ole sign at that level "BEARS: KEEP OUT!!!"

Schizo, please send me the antidote for "too low to short" syndrome. I keep waiting for a "pullback" - lmao!

Mr Bochin, what's the inside skinny on this move? Traders finally got the JPM "sell" memo? :p EDIT: Oh wait, it was my secret insider "I'm stepping away from my desk to hang out with a friend" memo!

You incorrigible counter-trender!

Yes that was my point, it found support there yet again. There is clearly an SEC regulation banning any price movement lower :D

In honor of Monty Python and the quest for the holy grail: "1037.50 shall be the number the ES shalt reach, and the number of the ES support shall be 1037.50. 1029.00 shalt not be the number, neither 1000; the ES shalt proceed to 1037.50. 997 is right out. Once the number 1037.50, being the...

I found this to be true and in fact it's a key factor in how long to hold a breakout trade before taking profits as well as the 3-bar counter-trend fade. With a 5-min chart you most often get a minimum of 2 large breakout bars.

This is so cool! I ramble on at length for about an hour and you turned it into something concrete! :cool: Clarifications: A - The shooting star at 9:25 is a virtual double top in relation to the 8:35 bar high (1 tick higher). Price lost momentum at 1054.50 then failed to break out...

A truly survivable stop needed to be above the previous pivot high (1058.25). Your entry was less than ideal. Price was in a clear down trend, but it was a trending range, allowing predicable value entry points at the upper trend line. 1058.00 was the value short entry prior to where you...

Guys, looking at the daily chart, this thing looks like it's going to break 1037 easily. What am I missing? Why go long here?

Regarding a "scalper's day", I think the morning had some decent moves, but the price action wasn't as clean as usual. CL also diverged from the ES, which was technically about as clean as it gets today, leaving me wondering why I didn't trade it. Because CL had a mind of its own today, I was...

+ $418 Can't complain too much, 45 ticks out of a 73 tick RTH range. Had a lot more showing on a few trades, but tried to be the patient one and let a winner run. Not today...messy price action.

I got no sleep either, but you don't need an excuse for this POS market today. Definitely a scalper's day.

Even more lol: My husband forwarded the testosterone article to me back when it came out. :D

Thanks for the options info, Bob. As for my trading, I can't believe how I can keep learning new things every single day. Of course, learning new things doesn't necessarily translate to doing those things... ha ha! Let me know if you ever want to "hit the bars" with me on crude oil. :D

b/e is break even. I sent you a PM so as not to get too much in the way of tlow's journal.

I believe the ability to let winners run is what takes up that final 3000 hours of the magical "10,000 hours of screen time" necessary to become a successful trader. I often feel like the dog chasing its tail from one trading day to the next. One day I cut my winners short and the next day I try...

Sounds to me like someone at JPM's oil trading desk is stuck in a very large short position :p :D :p

This all looks really easy in retrospect, but with the market losing the bid on high volume so quickly, off a lower high in a steady macro downtrend, a with-trend trader would be now targeting a lower low, a breakout of 1037.50. A with-trend trader might take some off there in case it did indeed...