CL Redux

[dsave]

Quote from Visaria:

I don't know what that means, but if it means, it's gonna go up, i hope so!

No, it needed to go back down to finish that second shoulder. So not a head and shoulders.

 

[Holey Grail]

Quote from dsave:

Head and shoulders?

knees and toes, knees and toes? Sorry, I have a two year old.

 

[Visaria]

Difficult to see why anyone would want to be short this over the long w/e. Who knows what's gonna happen in Libya, for instance.

 

[Holey Grail]

OK, I'm looking to short if there's another false breakout of .90. Other than that, sitting and watching still seems like a good plan.

 

[Picaso]

Quote from Holey Grail:

knees and toes, knees and toes? Sorry, I have a two year old.

 

[DonCorleone]

Quote from EON Kid:

Price action within the flag, price action in relation to yesterdays key levels, price action from Globex & RTH, volume, etc many simple things that when tied together will give you a clear picture.

1st you need to collect many flags, ones that worked and ones that didn't. You need to look inside the flag and strip it down to the finest detail as well as accounting for the macro forces

much appreciate your insight. your contribution makes this thread one of the best on ET.

 

[Holey Grail]

Looks like the whole world has adopted my sit and watch strategy.

 

[EON Kid]

Quote from DonCorleone:

much appreciate your insight. your contribution makes this thread one of the best on ET.

Glad I could help

Also remember that everything has timing, just like a good triangle should break before price reaches the apex ( drawn out price action shows a lack of strength), a bear flag has timing in relation to the prior price action

 

[InvestVision]

yes it likes to re-test again 111.25 line , but question is when ?
- from this .78 or
- first touching 112.09 line then re-test ?

Quote from Holey Grail:

Looks like the whole world has adopted my sit and watch strategy.

 

[InvestVision]

took plunge

SS 111.88 , stp .13