CL Redux

Quote from NoDoji:

Yes it was :D

Note to Frank: This is why you use hard stops and soft targets!
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Great trade. :) Did you have insider info? Mubarak called you ahead of time? :)
 
We were pretty close to falling off the cliff there. My view is that once we cross below 85.50 (and supposedly close the day below that number), then 80 is the next obvious target.
 
Quote from BCE:

Great trade. :) Did you have insider info? Mubarak called you ahead of time? :)
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This was a basic counter-trend play for me using the 1-min chart. I'd closed out my 5th long and saw a small triangle forming on the 1-min. I figured it was a 4th push up off the LOD and had pulled a good distance from the 20-EMA, far enough to maybe, maybe get a 20-tick retracement to the 20, so I shorted a break of the 10:59am ET 1-min pivot bar with my 15-tick hard stop and a 20-tick soft target.

Price just sort of fell off the DOM and at that point it was so close to the LOD, I moved my stop to lock in 20 ticks and decided to leave it alone for a bit. There was a good bounce and I figured oh well I'll get my 20, then it crashed again, and the LOD was really in play and I moved my stop to lock in 40 ticks, and targeted a break of 85.88, after which I locked in a point based on the "that's a lotta ticks" exit strategy.

"Anything can happen." - Mark Douglas
 
Quote from NoDoji:

This was a basic counter-trend play for me using the 1-min chart. I'd closed out my 5th long and saw a small triangle forming on the 1-min. I figured it was a 4th push up off the LOD and had pulled a good distance from the 20-EMA, far enough to maybe, maybe get a 20-tick retracement to the 20, so I shorted a break of the 10:59am ET 1-min pivot bar with my 15-tick hard stop and a 20-tick soft target.

Price just sort of fell off the DOM and at that point it was so close to the LOD, I moved my stop to lock in 20 ticks and decided to leave it alone for a bit. There was a good bounce and I figured oh well I'll get my 20, then it crashed again, and the LOD was really in play and I moved my stop to lock in 40 ticks, and targeted a break of 85.88, after which I locked in a point based on the "that's a lotta ticks" exit strategy.

"Anything can happen." - Mark Douglas
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Good strategies. I considered a short at 86.75 but unfortunately waited a bit too long. CSW = Coulda, Shoulda, Woulda. Should have used your hard stop strategy. :)

Mark knows. :)
 
Quote from Good Fortune:

Embassy connections I bet! :p

Just kidding :D
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Now wait a minute, I also had an order to go long @ 86.86 off that little triangle, it just so happened the short trade got triggered first :p
 
Quote from Good Fortune:

Embassy connections I bet! :p

Just kidding :D
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I was obviously just kidding too. I'm a kidder a lot as you've all no doubt noticed. It's always done in an affectionate way, never with any negativity or malice. No guarantee that any of it is funny (See NoDoji was a prodige). Just lighthearted. My style. :)
 
Quote from schizo:

We were pretty close to falling off the cliff there. My view is that once we cross below 85.50 (and supposedly close the day below that number), then 80 is the next obvious target.
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Keeps retesting those lows, other than the spike down low. Headed for that one too?

DX is rebounding off its lows and 6E is retesting its lows too.
 
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