CL Redux

Quote from oraclewizard77:

3) There is no number 3, suggesting a lack of ability to count by person posting chart or trader is sniffing coke or downing shots when he or she trades. For future reference 3 comes after 2 and before 4.

I have highlighted the most important part of your post for everybody's benefit.

How are the ES puts you bought yesterday doing?
 
Quote from schizo:

Here's my own analysis:

1) It's a retest of the high. Stop placed just above 81.

2) Two consecutive long candle tails and that it penetrated above the low of the first tail. Stop below the second tail.

4) It broke above the previous support (now resistance) only to fall right back. The trade was made as it retested the support. Stop placed just above 80.70 area

5) Same as 4, only in reverse. It initially broke below the prior support and then reversed course. Entered long as soon as it came back above the support. Stop placed below this new low, which was consequently hit.

6) Came within a spitting distance from the LOD before reversing. Entered long once the following bar after the LOD was breached. Stop placed below the LOD.

7) It first crossed above the trendline (connecting the dots between 1 and 4), but then came back down, leaving a long wick. Stop placed above the wick.

8) This was a retest of the low made at 2. Stop placed just below that low.

11-10-13) [yellow boxes near 80.50]: This actually coincided with a MAJOR trendline going back for days. But, regardless of that fact, it still coincided with the previous resistance at 7. Sorry for the mess with the numbers.

12) Trenline support between 6 and 8. Stop placed just below the TL.

13) [blue box]: Continuation of the trendline support. Ditto for the stop.

14) Entered short as it broke below and now it's retesting the TL. Stop placed just above the TL.

15) Entered long as it retested the prior low made at 8. Stop placed below the low made at 79.82


Do you always make so many trades? Most of the entries are pretty good but why not cut down on the trades.

Great chart. thanks for sharing
 
Quote from schizo:

Here's my own analysis:

1) It's a retest of the high. Stop placed just above 81.

2) Two consecutive long candle tails and that it penetrated above the low of the first tail. Stop below the second tail.

4) It broke above the previous support (now resistance) only to fall right back. The trade was made as it retested the support. Stop placed just above 80.70 area

5) Same as 4, only in reverse. It initially broke below the prior support and then reversed course. Entered long as soon as it came back above the support. Stop placed below this new low, which was consequently hit.

6) Came within a spitting distance from the LOD before reversing. Entered long once the following bar after the LOD was breached. Stop placed below the LOD.

7) It first crossed above the trendline (connecting the dots between 1 and 4), but then came back down, leaving a long wick. Stop placed above the wick.

8) This was a retest of the low made at 2. Stop placed just below that low.

11-10-13) [yellow boxes near 80.50]: This actually coincided with a MAJOR trendline going back for days. But, regardless of that fact, it still coincided with the previous resistance at 7. Sorry for the mess with the numbers.

12) Trenline support between 6 and 8. Stop placed just below the TL.

13) [blue box]: Continuation of the trendline support. Ditto for the stop.

14) Entered short as it broke below and now it's retesting the TL. Stop placed just above the TL.

15) Entered long as it retested the prior low made at 8. Stop placed below the low made at 79.82

How do you exit your winning trades?.
 
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