CL Redux

Perhaps there's a NoDoji type lady for silver that stepped away from her desk and has been on vacation since February. :) :p
 
What I have really been studying (now that volume is my best friend) is the prices at which these huge volume spikes come in at. I know you can draw horizontal lines on these prices after some price action has developed, but I'm trying to visualize the market as active buyers and sellers. When I see a huge volume spike, that's someone with more money than me making a decision. It's been fun to picture a person trying to hold the market with volume, and then picturing them squirming when their order goes underwater. A support turned resistance with the right volume combination can be seen as someone with big $$$ getting in, taking heat, and then exiting for break even from the other side.

I don't know if it's helpful, but it certainly makes the movements more fun to watch. The last example I can liken it to is the vol spike at 10:53. I don't know what that person was doing, whether they were trying to sell a DT, or buying a breakout, but I had a feeling that the price in which that volume came in should hold as support if we break above it. That appears to be the situation we are in now. Thoughts?
 
Quote from bigsnack:

What I have really been studying (now that volume is my best friend) is the prices at which these huge volume spikes come in at. I know you can draw horizontal lines on these prices after some price action has developed, but I'm trying to visualize the market as active buyers and sellers. When I see a huge volume spike, that's someone with more money than me making a decision. It's been fun to picture a person trying to hold the market with volume, and then picturing them squirming when their order goes underwater. A support turned resistance with the right volume combination can be seen as someone with big $$$ getting in, taking heat, and then exiting for break even from the other side.

I don't know if it's helpful, but it certainly makes the movements more fun to watch. The last example I can liken it to is the vol spike at 10:53. I don't know what that person was doing, whether they were trying to sell a DT, or buying a breakout, but I had a feeling that the price in which that volume came in should hold as support if we break above it. That appears to be the situation we are in now. Thoughts?
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Sounds logical and may hold true more often than not. But other times I've seen large orders get filled on the buy side before a pullback or selloff.

Observation is always a good bet. That's the way we learn.
 
Quote from BCE:

Sounds logical and may hold true more often than not. But other times I've seen large orders get filled on the buy side before a pullback or selloff.

Observation is always a good bet. That's the way we learn.
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Right. Until now, my number one setup has been "watch for volume and hop on for the reversal that the volume is anticipating". I think another valid setup is "watch for volume, and if that volume order goes underwater, trade with the direction of their stop out".
 
Quote from InvestVision:

we are at 112.90 , to close fade ?

Ideas ??
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See what happens. I was just typing in the message that 114 may be a tough barrier to break through if we get there tomorrow. And as I was typing somehow I closed the window I was typing in, it disappeared, and evidently I clicked on the SuperDOM and accidentally entered a long order on silver and in a few seconds made another $650. LOL True. :D :p Why doesn't it ever happen that way in my real account? :)
 
Quote from DonCorleone:

yes, it looks like it wants to squeeze higher here. i actually have 113.9 as target. :D
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I would like to thank you for this post yesterday. That 113.90 level stuck in my brain and I used it for a hard target on a long earlier, exiting almost at the high of the move :cool:

Quote from Eddiemorra:

part of the 95% losing club here - been browsing this thread for a few days.

I dont particularly believe TA/Charts can give anyone an edge, but im yet to find anything else that does either, so that's what im using to base my trades on.
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OK, I glanced at your trades and can confirm that you have no idea how to trade CL, which is why you're losing.

There’s a huge edge using TA with this thing, but you have to learn how it moves and reacts. You do not need indicators, only support and resistance, and trend lines. Keep studying, you’ll hold the grail of TA in your hand one day. It took me a long time to get to where I am now, 9-10 hours a day, plus weekends, plus about 100 spreadsheets with meticulous notes.

Quote from BCE:

It's like CL on steroids.
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Bighog’s exact words to me regarding silver.
:p

Can every day be like this one, please?
 
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