CL Redux

Questions to my colleagues:

It's me or today looks like a good day to trade reversals. I am more like a breakout trader, but just wondering.

Will like to hear your input.

Thanks.
 
Quote from mrbochin23:

Questions to my colleagues:

It's me or today looks like a good day to trade reversals. I am more like a breakout trader, but just wondering.

Will like to hear your input.

Thanks.
More...

So far yes. Problem is with the G-20 going on, as Austin cautioned, you can get sudden moves out of the blue. Today is the typical day when after getting stopped out several times in a row trying to trade momentum you switch to fading moves and/or averaging down and get crushed.

I'd tread carefully either way and particularly today trade what you see, not what you think.

Edit: probably a go-nowhere day, but there's the chance we get a $3 move either way.
 
Quote from Picaso:

So far yes. Problem is with the G-20 going on, as Austin cautioned, you can get sudden moves out of the blue. Today is the typical day when after getting stopped out several times in a row trying to trade momentum you switch to fading moves and/or averaging down and get crushed.

I'd tread carefully either way and particularly today trade what you see, not what you think.
More...

Thanks.
 
Quote from mrbochin23:

Questions to my colleagues:

It's me or today looks like a good day to trade reversals. I am more like a breakout trader, but just wondering.

Will like to hear your input.

Thanks.
More...

every day is a good day to trade reversals. Range is decent so far (so probably not chop), volume is low to average, indicates no real demand either way, so far.
 
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