CL Redux
- Thread starter schizo
- Start date
Quote from NoDoji:
I have a prehistoric trend line on my daily chart and the price at this trend line is 98.25, which is where price appeared to find support. Time to average into some long swings here?
i was looking at USO chart too. good hedge going long here. i'm thinking call option on USO.
i guess i'm not a "trader" then.
Well I didn't even catch the whole caboodle today, but wowzers!
AM:
1. Volume came in, we tested below and then came back up and above where volume had come in. I saw the inverted H&S and just set a limit order at 5.30's
2. I played this like a double bottom and it worked out.
3. Even though I missed a good chunk of the selloff, I'm happy that I stayed out of the 7:00 hour like I've been trying to.
4. I figured we'd have a continuation trade after that huge melt, and I got a perfect setup for round 2.
PM:
1. Again, volume up near the highs, and then we broke below where the spike price was, I went in figuring we shouldn't even come back up to the recent swing high (based on where volume entered).
2. B/E long
3. I actually tried this long 3 times, as it looked like the end with a stop run to finish it off. I got punched on the first two, but was (slightly) redeemed on the 3rd attempt. This seems to happen a lot so I've taken some snapshots to save for later.
4. Felt good, but got a +1 shakeout.
5. Another solid continuation trade.
AM:
1. Volume came in, we tested below and then came back up and above where volume had come in. I saw the inverted H&S and just set a limit order at 5.30's
2. I played this like a double bottom and it worked out.
3. Even though I missed a good chunk of the selloff, I'm happy that I stayed out of the 7:00 hour like I've been trying to.
4. I figured we'd have a continuation trade after that huge melt, and I got a perfect setup for round 2.
PM:
1. Again, volume up near the highs, and then we broke below where the spike price was, I went in figuring we shouldn't even come back up to the recent swing high (based on where volume entered).
2. B/E long
3. I actually tried this long 3 times, as it looked like the end with a stop run to finish it off. I got punched on the first two, but was (slightly) redeemed on the 3rd attempt. This seems to happen a lot so I've taken some snapshots to save for later.
4. Felt good, but got a +1 shakeout.
5. Another solid continuation trade.
What is your average and target? Why did you start the position @ 102.00? Do you think we could get 50% retracement of today's move? That deep tend line should provide a bounce. Wasn't GS looking for a value entry to go long again? Seems like a value entry to me.
And where IS Schizo???
you didn't take your stop at 100?