Quote from BCE:
That was a long wait. Patience. patience, patience.
ADD: Could, shoulda, woulda - CSW - bought that pullback.
ahhh, the beauty of the BCDE indicator. very nicely done!
CL Redux
- Thread starter schizo
- Start date
ahhh, the beauty of the BCDE indicator. very nicely done!
For sake of example, lets call the long side the Lakers and the short side the Clippers.
As we can see in after hours, the Clippers forced the Lakers back to their end zone which we will the call the EMA. At the EMA, the Oct CL Lakers which were doing well all day long, were the ones to bet on, since they were doing well all day long plus have been above the lows from previous weeks.
So we went long for a scalp, and gave the trade room. Especially in after hours, you need to give the trade room and not have a tight stop plus limit in and limit out, no market orders which can screw you for 3 ticks on low volume.
After getting long the Lakers started to move the ball, then the Clippers were able to move it back, but they only forced it 1 tick below the DB, maybe tricking some shorts to go short, and/or weak longs to get out. After that the Lakers were in charge and were finally able to bring the ball back to Clippers court.
At this point, I left my stops and targets alone, and went out for some food to come back and watch the game when I got home. After I got home, I see the Lakers scored, and made me a scalping profit.
As we can see in after hours, the Clippers forced the Lakers back to their end zone which we will the call the EMA. At the EMA, the Oct CL Lakers which were doing well all day long, were the ones to bet on, since they were doing well all day long plus have been above the lows from previous weeks.
So we went long for a scalp, and gave the trade room. Especially in after hours, you need to give the trade room and not have a tight stop plus limit in and limit out, no market orders which can screw you for 3 ticks on low volume.
After getting long the Lakers started to move the ball, then the Clippers were able to move it back, but they only forced it 1 tick below the DB, maybe tricking some shorts to go short, and/or weak longs to get out. After that the Lakers were in charge and were finally able to bring the ball back to Clippers court.
At this point, I left my stops and targets alone, and went out for some food to come back and watch the game when I got home. After I got home, I see the Lakers scored, and made me a scalping profit.
Tomorrow should be a good day to trade, if you like movement anyway. I can't imagine we will stay within today's $2 range (a $2.30 globex range at that), and today was a 345K contract day (compared with 292K the day before). An inside day, on higher volume, means that there is a strong probability that there are quite a few open positions being held on both sides, and thus some explosive movement outside of today's and Monday's range is very likely IMO. If we have a range less than 300 ticks tomorrow I will be surprised.
Late night quickie for +26... chart a la BCE, held trade for over an hour, this is my goal, namely, to not be a weenie and let the trade work. Target was .14, but volume scared me out of holding out for another 12 ticks.
EDIT: original target .14 just hit -- looks like being a weenie caused me to miss out on another 12 ticks.
EDIT: original target .14 just hit -- looks like being a weenie caused me to miss out on another 12 ticks.
Even with yday's high just poked and rejected, this is still shaping up very bullishly. Buyers have consistently bought every dip since the open of the session at 6pm. They should give it at least another run at yday's high, and are likely strong enough to push it up. My super bold prediction is that we see 90.00 today (and find sellers there).
EDIT: yday's high just breached again and to 88.04. I would expect some kind of nice big shakeout move down before heading too much higher, but buyers may surprise me and keep buying little dips.
EDIT: yday's high just breached again and to 88.04. I would expect some kind of nice big shakeout move down before heading too much higher, but buyers may surprise me and keep buying little dips.
S@88.25, .15 stop