CL Redux
- Thread starter schizo
- Start date
I wish it wasn't so late in the day or this could feel like the mother of all break downs coming
just for shits and giggles I bought some 94 puts. I will get long on the outright if we get back above 99 but DX holding 79 and ES looking like a champ things feel different............bearish...ARrr
This new approach sent me to zzzzzz as there is so much to read.
CL had a sell off, pullback , making a bear flag. Then resumed the pullback.
According to 123-12 : we should expecyt a third leg down if the reds are winners. Otherwise , if the third leg is unsuccessful, expect a reversal as it means the greens will be starting a huge move. But so far, the reds want it more.
candlesticks : reds are dominant,
We have a trendchannel line on H1.
==> trades : wait for a pullback to moving average that will coincide with the top of the channel. If no such case, no trade.
May be I'll wake up when the moving average meets the upper trendchannel line on the 1hour chart.
Back to zzzzz
CL had a sell off, pullback , making a bear flag. Then resumed the pullback.
According to 123-12 : we should expecyt a third leg down if the reds are winners. Otherwise , if the third leg is unsuccessful, expect a reversal as it means the greens will be starting a huge move. But so far, the reds want it more.
candlesticks : reds are dominant,
We have a trendchannel line on H1.
==> trades : wait for a pullback to moving average that will coincide with the top of the channel. If no such case, no trade.
May be I'll wake up when the moving average meets the upper trendchannel line on the 1hour chart.
Back to zzzzz
been advised to buy "THE books on price action". 4 books in total. I don't know if there is a pdf somewhere. I am not that keen in changing the way I trade. I am only trying to kill time in a productive way. But anyway, thanks for the reference.
May be the book will fire me up. the CLprice, sma and upper channel line have still to be in the same place at the right time.
Time to zzzz , and get some rest.
GM CL traders
So price, moving average and top of the channel met at the same time, and created the 3rd leg down ( Elliott 123).
Now we expect a 12 correction. a bullish move, according to Elliott wave 123-12 , then some ranging.
However, getting long after such a sell off might not be everyone's cup of tea. So I will myself pass. Whoever is courageous enough to take a small long, well, well well good luck.
I'd rather wait for the big bearish sell off again.
I can thus go and zzzzz without regrets.
Life of a trader
So price, moving average and top of the channel met at the same time, and created the 3rd leg down ( Elliott 123).
Now we expect a 12 correction. a bullish move, according to Elliott wave 123-12 , then some ranging.
However, getting long after such a sell off might not be everyone's cup of tea. So I will myself pass. Whoever is courageous enough to take a small long, well, well well good luck.
I'd rather wait for the big bearish sell off again.
I can thus go and zzzzz without regrets.
Life of a trader
attached new chart.
I will be getting a CL trading account with some "beer money".
I might link it to collective2 & cie to force myself to stop zzzz too much.
A bit of accountability will not hurt .
I will be getting a CL trading account with some "beer money".
I might link it to collective2 & cie to force myself to stop zzzz too much.
A bit of accountability will not hurt
.