CL Redux

Quote from Airwaves:

further sell off?

I've done OK today.
I always get killed on huge trend days, but do good in choppier days.

I feel that i need to find a good 'trend trade setup'.
I seem to be OK at picking turns, but i've never really found a good way to 'go with the trend' like everyone tells me i should be doing. When i go with the trend i buy the high tick and short the low tick
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Look for the opening range of the first half hour it usually gives you a direction where the big movements go for the day, today I was Bullish, thinking bears will take profit, but once I saw the direction after opening range, I change my mind. Pick 83 cents in a contract. :)
 
Quote from cstfx:

what do you consider opening range: rth trading or the earlier globex action?
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I consider opening range regular trading hours, I particular look at it from 9:30 AM to 9:45 AM ET, at the breakout of this range, and confirm it with my Market Profile Structure. Of course I also look at the fundamentals.........sometimes I stay out even if Tech Analysis are telling me otherwise.
 
Quote from schizo:

Here's the concluding remark.

If you have a rangebound market following a steep selloff, especially if it's a "inside day" pattern, what's the likely outcome for the next day or days to come?

Hint: Boo-ya! (well, so sez my broken crystal ball.) :)
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It ain't as manic as ES but the CL crowd still gathers to the annoying chant of "boo-ya!"

Possible target by Tuesday: 78.50-ish. Now that's scary, no?
 
i have a pretty big long position i will sell about 75% of at 78.50. Or maybe 50%. Depends.


Seems like we should get there....was hoping it would happen tomorrow :)
 
Quote from schizo:

It ain't as manic as ES but the CL crowd still gathers to the annoying chant of "boo-ya!"

Possible target by Tuesday: 78.50-ish. Now that's scary, no?
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78.20 weekly resistance. (broken support)
 
Quote from HuggieBear:

i have a pretty big long position i will sell about 75% of at 78.50. Or maybe 50%. Depends.


Seems like we should get there....was hoping it would happen tomorrow :)
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That could very well be. I'm just being conservative. As I wrote on Friday, what I specifically want to see is a narrow range bar on Monday. That will be very bullish. In that case, we might even surpass 78.50.
 
CM Control-Bar Price Study

Having spent the past four years dropping in & out of this forum, it occurs to me that most of my recent posts did exactly what I despise: no positive input for the silent majority of solid citizens here.

So let's start out in a different direction today. Above is a link to one of our price-action only measurement studies which helps identify key pivotal zones in any market. I personally use this on my filter(anchor) chart to anticipate pending S/R zones and confirm reversals or pullbacks as they happen... not after the fact.

This is a pure price action study, nothing else. Consider it free "snake oil" or pure gold, whatever you see of value to yourself. Works in all markets and timeframes because price is price, and that's what price action does.

Roughly 50min recorded video of a live HotComm presentation for 450+ registrants back in 2/08/10. Will post charts at times in this thread that help identify how the process unfolds.

Hope this helps :>)
 
fwiw: so far today I've gone from +50 cents to +75 cents to +50 cents to +80 cents to +50 cents CL on too many turns. Violent sideways action as expected & noted premarket. When the CL moves sideways, it does so in spectacular fashion :)
 
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