CL Redux

[emg]

QMM0: Plan on going long 77.50

 

[startraitor]

Taking a buck before the number.

Quote from startraitor:

long 79.30, stop .50, target 80.50

 

[Speciaul_K]

Quote from emg:

QMM0: Plan on going long 77.50

7800. Honestly don't think we will see it today.

 

[startraitor]

Today's swing low 50% of Feb 5th low on the daily. Last Wed swing low was close to the 38%.

 

[startraitor]

sh 80, stop over high, target lows.

 

[NoDoji]

The 10:40am bar close above the 20 EMA produced the kind of follow thru to be expected in a reversal. I guess the pending inventory report subdued the previous close above 20, although that one still had some upside before pulling back.

My friend Bighog alerted me to this strategy a while back and I've been watching it a lot lately. It's a very good signal overall.

 

[trader198]

could not beleive myself, I rode 1point, the hard stop thing really can takes my emotion away. but stopped out my NQ too early, bought NQ at 1935.75, trail the stop too tight

 

[schizo]

Deja vu back to 02/04-02/05

 

[NoDoji]

Quote from trader198:

the hard stop thing really can takes my emotion away.

That's a strong advantage of a hard stop, and the stronger your opinion of where price will go, the more important it is to have a hard stop, IMHO, because there's nothing worse than price turning against your opinion in a big way and there you are without a real plan.

 

[Tonkadad]

Quote from NoDoji:

the stronger your opinion of where price will go, the more important it is to have a hard stop,

Excellent!