CL Redux
- Thread starter schizo
- Start date
Quote from NoDoji:
Friends don't let friends think and trade!
I had a buy stop for a while @ 89.07 when that price was quite far away, and took it off as price got close to it because I THOUGHT the range would hold. So where did I finally go long after all that? 89.70 for 20 ticks out of a 99-tick move from my order that I took off. I'm an idiot.
Is you 20 tic targets based on what is easily attained on new high/low trades or do you trail out of contracts as you get deeper into trend?
First pullback after huge run up shows how strong this push up is as it couldn't get back to the 20ema, but reduction of vol on these highs at 90.49, am suspect of continue trend?
I locked in 20 ticks after price broke 90.00, because this thing is volatile monster lately and 90.00 was likely a strong stop run level at that point after the massive move up. I could've locked in 30 ticks, but was willing to give it some room to run yet more because CL will do whatever you least expect. I actually re-longed again @ 89.91 on the shallow pullback pivot, but the failure to retest that high resulted in a scratch trade there.
My last long was 89.80, exit @ 90.40 based on the "this thing has gone too far and that's a lot of ticks" exit strategy. As you can see, I'm very professional in my trade management
short 90.54
Yes! a retest of 89.20 area today or tomorrow would make sense.
short 3 qms 90.75
1st stop above r1
1st stop above r1
I let that move off of the bottom go. It was too easy.Quote from NoDoji:
Friends don't let friends think and trade!
I had a buy stop for a while @ 89.07 when that price was quite far away, and took it off as price got close to it because I THOUGHT the range would hold. So where did I finally go long after all that? 89.70 for 20 ticks out of a 99-tick move from my order that I took off. I'm an idiot.
I like to trade something more difficult and make peanuts. Back to trading in a sec. I think the pause before rallying was people taking profits still from last year's move. Happens most every morning the last few weeks.