CL Redux
- Thread starter schizo
- Start date
I'd like to get feedback on a couple of sim trades I took this evening just now. Am I just this bad on these, or did I get an unfortunate break? In other words, are these sound trade ideas to you?
1--I see this and given the strong market we've had the last 3 days, think it's reasonable that we have had a fake break below the range to trap shorts, we've found support twice at the close, and now ready for another leg up.
2--Doh! Stopped out.
3--Well, I've been stopped out on a nice break south on good volume. I wait for a retest of the close and breakout point, which happens to be a declining volume move up, so its doubly enticing, and short, putting the stop above the consolidation area. Target is lower (see #5).
4--Damn. So, I see that there was not much selling interest on the second move down, and what selling there was, was absorbed and turned around by little buying. But to me before this point I was certainly seeing movement down as the easy path.
5--Here are my thoughts on the slightly bigger picture.
6--I did get pissed and took a short and made back some money.
1--I see this and given the strong market we've had the last 3 days, think it's reasonable that we have had a fake break below the range to trap shorts, we've found support twice at the close, and now ready for another leg up.
2--Doh! Stopped out.
3--Well, I've been stopped out on a nice break south on good volume. I wait for a retest of the close and breakout point, which happens to be a declining volume move up, so its doubly enticing, and short, putting the stop above the consolidation area. Target is lower (see #5).
4--Damn. So, I see that there was not much selling interest on the second move down, and what selling there was, was absorbed and turned around by little buying. But to me before this point I was certainly seeing movement down as the easy path.
5--Here are my thoughts on the slightly bigger picture.
6--I did get pissed and took a short and made back some money.
Quote from JoshDance:
5--Here are my thoughts on the slightly bigger picture.
6--I did get pissed and took a short and made back some money.
Hi, first post. Been following this thread for a while, thanks for posting. Some really good info posted by many.
I normally trade fx, and am still very much a work in progess.
My 2c worth, the 5 min trendlines are in play, you ran into a retest of the uptrend, price hits the current downtrend and takes off again. I've finally twigged on this action lately so I got excited and signed up to reply.
You can get some good low risk entrys off the retest using a shorter time frame.
Cheers, D.
