CL Redux

[schizo]

Add 89.23

As Nod sez, nothing's too low to short. Hence, taking my chance here. Entire stop placed at 90.40

 

[InvestVision]

Long 89.15

 

[EON Kid]

Quote from InvestVision:

Long 89.15

I like it

 

[NoDoji]

Someone PM'd me about why I never mention the 50 day MA. I never looked at it before, but I see that it's being seriously defended today. Is this because of OPEX? This 89.00 level is holding like a basement floor. Seems like buy every dip, counter-trend moves are as good as the trending moves.

 

[BCE]

Lets see if it bases here. It may want to test that 88.45 from 1-7. Or...............Stay tuned. (Written before I saw yours ND. )

It's funny seeing those big buy orders flashed and then pulled.

Be glad when I get my new account funded next week so I can actually trade.

 

[NoDoji]

Quote from BCE:

Be glad when I get my new account funded next week so I can actually trade.

Very cool! Here is my "hot trading tip" for you: Be patient for your profit targets, sometimes this thing dances all over the place before it gets there! :eek:

 

[riskaddict]

I'm showing 50 day at 88 and s1 at 88.15, s2 around 87! The only reason I'm scared to short is because the dollar is on the verge of rolling over and like you said 89 has been a beast the last 2 days now. But like I said yesterday the more often a price is visited the less serious buying power there is at that level. It's just traders being wishy washy. But you know why they are called theories and not facts

 

[EON Kid]

Quote from NoDoji:

Someone PM'd me about why I never mention the 50 day MA. I never looked at it before, but I see that it's being seriously defended today. Is this because of OPEX? This 89.00 level is holding like a basement floor. Seems like buy every dip, counter-trend moves are as good as the trending moves.

I dont use MA's threw them out many years ago nor could I find any value in pivots. Although other posters have said that they have developed a statistical edge eg with the ES if the PP is not touched for so many consecutive days then there is a high chance of a tag

 

[InvestVision]

close 89.37

Quote from InvestVision:

Long 89.15

 

[NoDoji]

Quote from EON Kid:

I dont use MA's threw them out many years ago

They're basically mobile S/R levels that can be helpful keeping you in a good trade more than anything else, IMHO. The 20 on the 5-min chart is also a great way to identify breakout entries on bull trap/bear trap trades.

I guess my daily chart 50 day EMA is weird, because I show it just under 89.00.