CL Redux
- Thread starter schizo
- Start date
nodoji, that is my secret. pre-market trading session is very tricky, particularly in the opening. in reality, if you use stop, you may lose BIG. I know that HOD, but I just ignore that. did you notice ES/NQ drop so fast in 1minute bar, also CL drops 50ticks in 1 minute bar. some people may use stop to sell or short sell the LOD (70.13), you may get filled at 69.57 the bottom price, when you try to cover it, it quickly back to where you try to sell, you are red or trapped. that is why I trade abnormally. either you trade the abnormancy or trade pro-actively
But notice this: Those big red bars followed high probability setups in a down trend. Price rises to the upper Keltner band in an established down trend without breaking through a previous R level, strong short entry. Lower high in a down trend, also good short entry.
It's rare for a strong move like that to occur AGAINST the prevailing trend unless news hits the wire or a major S/R level is reached.
you are right. selling the touch is a good pro-active strategy. strong move like that often happens in crude even in an obviously defined trend. do not forget, if this side is wrong, then another side is right, so no news need fire up so strong move. if I shorted the opening at the bottom price of 70.27, when it goes back 70.50+, or many short sellers sold last week and hold, definitely they will put their stop at the most obvious place that is 70.5+, if those stops are triggered, that will be a boom, easily 50ticks or even 100ticks move!
just wake up, feel good again. trading is kind of intelligent game? glad ignore Nodoji's wild stop to catch wild move. the market is just 180 degree turnaround after it hit an obvious short sale level. if this side is wrong,. then must another side right! schizo is very experienced!