CL Redux

[EON Kid]

Quote from NoDoji:

That's what I was thinking. I've been doing that with stocks, entering just before the breakout, when the buying strength is apparent.

I can see about 5 reasons that breakout would work

the first two and probably the most important is the
- high momentum and volume to 81.45
- the 'buying strength' the significant increase in ask side volume prior to the break out

 

[OTCkrak]

i think this fails at 82.5

looked for a fakeout over .25, nvm

 

[EON Kid]

short 82.19 .07 stop


10:20 stop to 82.21

 

[EON Kid]

Quote from EON Kid:

short 82.19 .07 stop


10:20 stop to 82.21

Exit 81.98

 

[NoDoji]

Quote from EON Kid:

I can see about 5 reasons that breakout would work

the first two and probably the most important is the
- high momentum and volume to 81.45
- the 'buying strength' the significant increase in ask side volume prior to the break out

Exactly, that's what I saw and that's why hesitant to use a buy stop, but I really should've just jumped in a few ticks ahead. An additional boost was a lot of intraday shorts hoping and praying at that level

 

[ammo]

right shoulder?

 

[EON Kid]

Quote from NoDoji:

Exactly, that's what I saw and that's why hesitant to use a buy stop, but I really should've just jumped in a few ticks ahead. An additional boost was a lot of intraday shorts hoping and praying at that level

That's right, on Trader technologies MD trader you can sweep all offers up to a range, with a single click, if you have the buying power. That big boy/girl gets all the best fills and probably sells some into the shorts stop market orders and BO market orders.

 

[kxvid]

Quote from EON Kid:

That's right, on Trader technologies MD trader you can sweep all offers up to a range, with a single click, if you have the buying power. That big boy/girl gets all the best fills and probably sells some into the shorts stop market orders and BO market orders.

Something about that spike seems unfair to me, like some big player(s) doing like you describe. Didn't feel like normal price action. Maybe there will be busts?

 

[NoDoji]

Quote from kxvid:

Something about that spike seems unfair to me, like some big player(s) doing like you describe. Didn't feel like normal price action. Maybe there will be busts?

Seemed like textbook CL breakout action to me, especially since there was such strong buying pressure leading into it. Wouldn't be surprised to see another one.

 

[EON Kid]

Quote from NoDoji:

Seemed like textbook CL breakout action to me, especially since there was such strong buying pressure leading into it. Wouldn't be surprised to see another one.

Near 83 would be a sweet level for a short



ES still looks stuck