Heavy heavy buying going on. All being absorbed. That being said, sellers will have their stops above HOD so I will long .19 looking for a break of .22 and then HOD, and hopefully a bail to 96.50ish. The alternative is a weak break here or none at all, in which case I will have a small loss.
CL Redux
- Thread starter schizo
- Start date
Actually that's been my indicator all along. If we go back and look at the posts.
http://www.elitetrader.com/vb/showthread.php?s=&postid=3119551&highlight=BCE+Indicator#post3119551Quote from BCE:
The new indicator will be called BCE Exit Breakout.
It will monitor my trades and when I have a winning trade for a few hundred, it will tell you to enter there in the same direction with size.
BTW I just made $300 on the ramp up off TF but left another $300 on the table by not waiting two minutes more.
This is the time of day, for me at least, where profitable mornings go to die. I just took a couple of small losses dicking around with this chop, and I'm going to need to see some serious volume before I get back in. I know it's Friday too which doesn't help, but this is just a crap shoot with this stuff.
It's all the more frustrating because I am 70% sure this will drop, but timing the entry for me is difficult due to the ranging.
It's all the more frustrating because I am 70% sure this will drop, but timing the entry for me is difficult due to the ranging.
Nice trading BCE--if you can get some profit in on a Sunday, it always feels better Monday morning when you wake up for trading!
This is quite a nice opening gap. I have seen this type of gap referred to as a "professional gap" (as opposed to a "novice gap"). A professional gap is one in the opposite direction of the previous trend. The fact that it has gapped up despite prior bearish move indicates that buyers are seeing the value of buying "low." This is as opposed to a novice gap, which is in the same direction as the prior move, and occurs because novice traders panic and want to get on board--this is the type of gap that usually gets filled, much in the same way that novice traders jump on the end of a trend too late, only to see the move reverse because experienced traders are already fading them.
I am not experienced with trading these, but the fact that a 30 tick gap occurred above the last tick of the day Friday (50 above the settlement) after a strong down week suggests to me that the demand was high because the smart traders see the value in buying at this price. The fact that it has not filled in 3 hours is telling, and while it may fill still, I would not be surprised to see a nice movement up either tonight or Monday.
The volume last week (which was decidedly a bearish bar for the week) was also only average (almost identical volume to that of the prior week's bullish close), which may mean that buyers will take this back to 100 and go back to the top of the July range.
This is quite a nice opening gap. I have seen this type of gap referred to as a "professional gap" (as opposed to a "novice gap"). A professional gap is one in the opposite direction of the previous trend. The fact that it has gapped up despite prior bearish move indicates that buyers are seeing the value of buying "low." This is as opposed to a novice gap, which is in the same direction as the prior move, and occurs because novice traders panic and want to get on board--this is the type of gap that usually gets filled, much in the same way that novice traders jump on the end of a trend too late, only to see the move reverse because experienced traders are already fading them.
I am not experienced with trading these, but the fact that a 30 tick gap occurred above the last tick of the day Friday (50 above the settlement) after a strong down week suggests to me that the demand was high because the smart traders see the value in buying at this price. The fact that it has not filled in 3 hours is telling, and while it may fill still, I would not be surprised to see a nice movement up either tonight or Monday.
The volume last week (which was decidedly a bearish bar for the week) was also only average (almost identical volume to that of the prior week's bullish close), which may mean that buyers will take this back to 100 and go back to the top of the July range.
Have not seen an opening jump like that in a while. I was ready to put my buy stop at .14 but a few seconds before the open it jumped to .17, and then I did not put it at .18 and it popped quickly to .36. I put my stop in at .40 and was filled and took a quick out at .54. Just before that I shorted .23 and out at .08, great trade and even better because I walked away and was filled when I came back, I didn't have an opportunity to screw up my target