CL Redux

[ChkitOut]

Quote from NoDoji:

So I'm aware that the technicals are beating the fundamentals in this market, and I know that a break through .67, especially after the 11:55am bar closed above the rising 20-bar EMA, was bullish, and did I trade that setup? No. Why? Because I thought the fundamentals were too bearish. I need to get over this problem

How do you define strong conviction? I'm asking because the 5minute vol bar on that break was weak.

 

[EON Kid]

Quote from EON Kid:

short 84.32

Exit 84.28

 

[trader198]

there are lots of things which are fundamentals: the most important is the inbalance of sellers and buyers beyond hard data

Quote from NoDoji:

So I'm aware that the technicals are beating the fundamentals in this market, and I know that a break through .67, especially after the 11:55am bar closed above the rising 20-bar EMA, was bullish, and did I trade that setup? No. Why? Because I thought the fundamentals were too bearish. I need to get over this problem

 

[NoDoji]

Quote from ChkitOut:

How do you define strong conviction? I'm asking because the 5minute vol bar on that break was weak.

The noon bar was a 26-tick bull bar with no tails. I call that conviction.

 

[ChkitOut]

Quote from NoDoji:

The noon bar was a 26-tick bull bar with no tails. I call that conviction.

ok, i didn't know if you were looking @ volume.

where did you come up with .67 is a 50% retracement or something??

 

[schizo]

Quote from schizo:

flip short 84.33

Out 84.17

 

[trader198]

when you saw those bears are scared, and those bulls are red eye and charged bears into the corner, we have inavoidable surge

Quote from trader198:

there are lots of things which are fundamentals: the most important is the inbalance of sellers and buyers beyond hard data

 

[EON Kid]

Quote from NoDoji:

The noon bar was a 26-tick bull bar with no tails. I call that conviction.

I call it Marubozu

 

[ChkitOut]

Quote from ChkitOut:

ok, i didn't know if you were looking @ volume.

where did you come up with .67 is a 50% retracement or something??

oh i see, it was the 10:45 pivot

 

[NoDoji]

Quote from ChkitOut:

ok, i didn't know if you were looking @ volume.

where did you come up with .67 is a 50% retracement or something??

It was not only a tick above the next resistance level to be tested, it was also 50% retracement of the move, a lot of long fuel built up there. I really regret not playing the breakout.

I have an appt. I hope to catch more than my current whopping $86 profit when I return!