CL Redux
- Thread starter schizo
- Start date
maybe i missed it, but did anyone else give a better entry and target?
apparently he moved his stop to breakeven so he probably got stopped out but i thought it was a good call. at least he did call new high of the day.
Okay. But for information purposes, please note that even the original protective stop was touched at 11:44 EST. Some people here make impressive calls from time to time, and EON Kid is certainly among them. It just wasn't clear to me why this call was one of them. Carry on.Quote from DonCorleone:
apparently he moved his stop to breakeven so he probably got stopped out but i thought it was a good call. at least he did call new high of the day.
1st trade for the day was YG or mini-gold. I like YG since you can be wrong and not lose much money.
I thought YG was reversing up, but it instead went down right after I went long. I had my stop below mini support not major support and got stopped out. Also, I think problem with trade was that I did not wait for lunch hour to finish.
I then was watching CL. CL was in a range near a bottom of a triangle. I decided I would wait for my indicator to give me a long signal plus see if price would confirm it.
I got long but now my problem was that I could not use a chart based stop unless I want to give price more wiggle room. However, good news price started to go in my direction, so decided to leave a standard stop.
Price finally was about to hit my target, and I manually got out of the trade, but should have just let the market take me out. However, good news I ended up erasing my loss on YG and making a decent profit for the day. TA does work but you can't be sleepy when you take that 1st trade of the day or if you are like me and that 1st trade is sometimes a bad trade, I would advise using either sim or a mini future so that when you do your 2nd trade if it is a winner, you can make a profit not just get back to BE.
I thought YG was reversing up, but it instead went down right after I went long. I had my stop below mini support not major support and got stopped out. Also, I think problem with trade was that I did not wait for lunch hour to finish.
I then was watching CL. CL was in a range near a bottom of a triangle. I decided I would wait for my indicator to give me a long signal plus see if price would confirm it.
I got long but now my problem was that I could not use a chart based stop unless I want to give price more wiggle room. However, good news price started to go in my direction, so decided to leave a standard stop.
Price finally was about to hit my target, and I manually got out of the trade, but should have just let the market take me out. However, good news I ended up erasing my loss on YG and making a decent profit for the day. TA does work but you can't be sleepy when you take that 1st trade of the day or if you are like me and that 1st trade is sometimes a bad trade, I would advise using either sim or a mini future so that when you do your 2nd trade if it is a winner, you can make a profit not just get back to BE.
yes, i think a lot, if not most, of us on this thread uses 20 ema.