CL Redux

[schizo]

Quote from startraitor:

Here is an old Linda Bradford Raschke article where she talks about trading the 20 bar ema. She is the first I read it from some 15 + years ago.


http://www.lbrgroup.com/images///raschke_pt2_0304.pdf

This is verbatim for Holy Grail setup from LBR's "Street Smart":

FOR BUYS (SELLS ARE REVERSED)

1. A 14-period ADX must initially be greater than 30 and rising. This will
identify a strongly trending market.
2. Look for a retracement in price to the 20-period exponential moving average.
Usually the price retracement will be accompanied by a turndown in the ADX.
3. When the price touches the 20-period exponential moving average, put a buy
stop above the high of the previous bar.
4. Once filled, enter a protective sell stop at the newly formed swing low. Trail
the stop as profits accrue and look to exit at the most recent swing high. If you
think the market may continue its move, you might exit part of the position at
the most recent swing high and tighten stops on the balance.
5. If stopped out, re-enter this trade by placing a new buy stop at the original
entry price.
6. After a successful trade, the ADX must once again turn up above 30 before
another retracement to the moving average can be traded.

 

[NoDoji]

Quote from ChkitOut:

How do you define "confirmed"?

In my 5-min time frame I consider confirmed long signal a close above a flat or rising 20-bar EMA, the first of which occurred on the 1:30pm bar. After that bar closed, you'd expect a good volume of buying if there were buyers truly interested at that level, but there was no follow through.

 

[emg]

Quote from emg:

Plan on going long 81.92 1/2

order cancel. done for the day

 

[NoDoji]

Quote from schizo:

This is verbatim for Holy Grail setup from LBR's "Street Smart":

FOR BUYS (SELLS ARE REVERSED)

1. A 14-period ADX must initially be greater than 30 and rising. This will
identify a strongly trending market.
2. Look for a retracement in price to the 20-period exponential moving average.
Usually the price retracement will be accompanied by a turndown in the ADX.
3. When the price touches the 20-period exponential moving average, put a buy
stop above the high of the previous bar.
4. Once filled, enter a protective sell stop at the newly formed swing low. Trail
the stop as profits accrue and look to exit at the most recent swing high. If you
think the market may continue its move, you might exit part of the position at
the most recent swing high and tighten stops on the balance.
5. If stopped out, re-enter this trade by placing a new buy stop at the original
entry price.
6. After a successful trade, the ADX must once again turn up above 30 before
another retracement to the moving average can be traded.

That's similar to my entry technique today (reversed of course). I sold @ 10:33am when price broke below the 10:25am bar's close. I covered when price overshot the lower Keltner, just sort of by "feel".

 

[Speciaul_K]

Quote from schizo:

That's where I have my eyes glued as well, although it might not get there by today. But you know what? I think we'll blow right past it. I would keep a tight stop in place just in case.

Im looking for 8215

 

[NoDoji]

Someone emailed me and asked if I'd post my trades because they learn something from them. The lesson today is that I'm not sure if I would've jumped in at all if it wasn't for mrbochin's news alert. Sad but true. I kept thinking price had fallen quite a bit and should be finding support at least to the falling 20 EMA where I'd then evaluate an entry, but it wasn't having any of it. But the news post gave me a confidence boost and I said "what the hell" and entered in the direction of momentum so I could quickly lock in a b/e result at least.

Worked out much better than that.

 

[schizo]

Quote from NoDoji:

...gave me a confidence boost and I said "what the hell" and entered in the direction of momentum so I could quickly lock in a b/e result at least.

Worked out much better than that.

Girl, you put this noob to shame. Oh, what the hell.

 

[mrbochin23]

I have a question, I am looking how the options work on currencies, I never trade currencies, but I am thinking very serious about buying puts with strike price in 1.25 can someone explain me how many options is that we buy etc, etc, or a link where I could check that out.

Sorry to get out of the topic.

 

[Speciaul_K]

Quote from mrbochin23:

I have a question, I am looking how the options work on currencies, I never trade currencies, but I am thinking very serious about buying puts with strike price in 1.25 can someone explain me how many options is that we buy etc, etc, or a link where I could check that out.

Sorry to get out of the topic.

Dont know, call your broker or tradedesk and they will be happy to tell you.

 

[cstfx]

US API Gasoline Inventories W/W (Apr 30) 1459K vs. Prev. -658K
US API Distillate Inventory W/W (Apr 30) 1372K vs. Prev. -1369K
US API Cushing Crude OK Inventory W/W (Apr 30) 1676K vs. Prev. 401K