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CL Redux
- Thread starter schizo
- Start date
that sort of move has no predictability in my opinion, you're better off flipping a coin if you want to catch those spikes
are u watching the eur/usd for reasons to get in or sitQuote from JoshDance:
The current move up is one of the #1 sources of frustration for me as a trader. I feel like when I see a good opportunity and enter on a break, my entry is ALWAYS tested. Always. Then, when looking for a pullback or a counter trend entry on something like this, we have ZERO pullbacks greater than 10 ticks in a 100 tick move up in 8 minutes. I feel like, and it's not true, that had I entered on a bar break, that would be the one that's fake and goes on a big retrace. All this out of the blue.
I was long at .06 and chose to close when it was indecisive. That's the way it's been working lately. As much so is that I've sat around in chop for hours on end, with only one or two good possibilities, and then when I'm long and close early, the biggest move of the day happens, with very little warning I might add. Very frustrating, as much as I let it be anyway.
Quote from Blubaru_555:
that sort of move has no predictability in my opinion, you're better off flipping a coin if you want to catch those spikes
Thanks blu, that makes me feel better--I mean, it didn't build up enough IMO, so I was looking long, it just makes it all the more frustrating that I could have held my long for at least a few more minutes... instead I get out at -1. I knew there would be buyers at .17 because of the nice 60m bar, but I did not expect anything like that. But, of course that's the way trading goes so I just move on and wait for the next one...
Quote from ammo:
are u watching the eur/usd for reasons to get in or sit
No I do not watch any other markets, though I do have an ES workspace open which I will flip to every now and again when I remember. Why do you ask? Of course the markets are correlated but not reliably so enough for me to take my focus off of CL, and focusing intently on CL is hard enough for me.
THEY ARE TRADING CL OFF THE DOLLAR MOVES,THERE IS A FORECAST THERE FOR YOU THEY ARE DIRECTLY CORRELATED SO ITS LIKE WATCHING ONE MARKET,IT WILL MINIMIZE THE TIMES U GET BURNT AND LEAD U INTO A LOT OF TRADES sorry about the caps,no retypingQuote from JoshDance:
No I do not watch any other markets, though I do have an ES workspace open which I will flip to every now and again when I remember. Why do you ask? Of course the markets are correlated but not reliably so enough for me to take my focus off of CL, and focusing intently on CL is hard enough for me.