CL Redux

Quote from Blubaru_555:

still long 75.39, stop 75. 25.

hope we don't head back down into the chop, grr
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My cursed Ouija board says position traders are entering long before the close, so... good luck with that long (if ES and EUR break out of their chop to the upside I see a HOD breakout)... or not
 
where do you guys get your cursed ouija boards and broken crystal balls!?! ebay?

looking to get long again if we can actually make a meaningful move upwards.
 
that board is haunted, not cursed, i don't think it'll have the beneficial properties needed to help me trade!

what is making CL go higher at this moment? the ES tanked before CL's close and we're just chugging higher
 
Quote from Blubaru_555:

that board is haunted, not cursed, i don't think it'll have the beneficial properties needed to help me trade!

what is making CL go higher at this moment? the ES tanked before CL's close and we're just chugging higher
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You need to take phantasms seriously...

My cursed Ouija board says position traders are entering long before the close
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Quote from mrbochin23:

Guys, I usually trade with Openning Range, for the first half hour and first hour.
I hope this is not unethical, but I would like to know when you trade Resistance and support breakout how many ticks above or under respectively you consider breakout for an entry position.

Thanks.
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I do what Picaso does when trading breakouts, 1 or 2 ticks before the break with a very tight stop in case of a failed b/o, or maybe even enter earlier when price pivots off a shallow retrace and heads toward a breakout level. You can get killed on slippage if you place your stop order a tick outside the level.

I think this is the most comfortable way to enter a strong trend, because you never get enough pullback for a textbook technical entry when the trend is really strong.
 
Quote from Speciaul_K:

The only problem with using a Mystic Board for trading is you don't know if the spirit giving you advice has its series 3 license. Maybe its ok if the person working the board with you has their brokers license :p :p
They should make a board with buy and sell on for the people that only trade one instrument :D
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Series 3? Hey, the guy who sold it to me for a really good price said it had Jesse Livermore's ghost trapped in it... Wait... maybe that explains it... they're cotton prices! 0.7729, not 77.29!!! :D
 
Example of a breakout trade from this morning. Shorted 1 tick above the test of the low and targeted a measured move down based on the breakout of previous support (75.59) to the low I shorted (75.29), but I added 2 ticks for good measure because I've had so many targets missed by 1 or 2 ticks over the past month :eek: That turned out to be a very wise decision!
 

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Quote from NoDoji:

Example of a breakout trade from this morning. Shorted 1 tick above the test of the low and targeted a measured move down based on the breakout of previous support (75.59) to the low I shorted (75.29), but I added 2 ticks for good measure because I've had so many targets missed by 1 or 2 ticks over the past month :eek: That turned out to be a very wise decision!
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what was your stop on this trade? i assume just a few ticks wiggle room?
 
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