CL Redux
- Thread starter schizo
- Start date
Do "trend following" traders consider a long here on this pullback to "support"? (time 13.32 EST price 97.92 - the ET clock is off by 2 mins)
Is the trend still up? Is there a way to recognise when it has ended?
Anyone long from prices above 97.80 with a stop below the last "significant bottom" on the 5m chart so 97.60?
Disclosure: I am still short.
Is the trend still up? Is there a way to recognise when it has ended?
Anyone long from prices above 97.80 with a stop below the last "significant bottom" on the 5m chart so 97.60?
Disclosure: I am still short.
What happenned to your 97.75 short?
Where did you cover if you did?
Thank you for your reply.
Does that mean a trend follower stays long or keeps taking every long setup until 97.20 trades? What about for intra day trading - do trend traders not take any day trade shorts?
Also, do trend followers consider this bounce up to 97.82 (at 13.52 EST) a signal to get long with the trend? (again with a stop under the 5 minute chart recent low 97.46) What about waiting for a lower high? Does that only trigger a short when the price makes a lower high and then a lower low?
did you add another short Blotto? Or did you exit somewhere and get back in short?
Thank you for your interest. I exited at the start of the upswing and got back in short at the start of the next downswing.
As I mentioned some time ago on this thread I believe in timing highs and lows to within 1 minute of the high/low print and entering within 15 cents of the high/low print. I was asked by some here if I could demonstrate with some real time calls.
I take many trades and it would be time consuming and distracting to post them all. I am demonstrating a concept by showing particular entries which are considered "counter trend" by selling multi week high prints. This is to illustrate that it is possible to be consistently accurate when the orthodox view is that "fade" or "counter trend" entries are the least high probability trade.
I do indeed buy back my short and go long at the bottoms of downmoves. However I am only calling my entries. Before ET cry foul, please note that these entries go deeply on side without moving more than 15 cents against.
So far I am three for three selling multi week highs, calling my short intention in advance, and showing a fill blotter within a few minutes of entry.
Yesterday, 9 November, was short price 97.75 time 11.55 EST. High of day was 97.84, 9 cents higher than my entry. Market made a low at 14.07 EST at 95.18 (257 cents lower than the entry).
Today, 10 November, two trades.
Short 98.09. The 13.12 EST high was 98.18, 9 cents higher than my entry. We then make a low at 13.46 EST, with a print of 97.47 (62 cents lower than the entry).
Second trade short 98.23. The 13.59 EST high was 98.35, 12 cents higher than my entry. We then make a low at 14.08 EST with a print of 97.56 (67 cents lower than entry).
If we take my 15 cent tolerance for exits these trades are together worth minimum 351 cents with correct exits. Shorting multi week highs within 1 minute and 15 cents of the high print. 3 for 3.
There are many other trades corresponding to selling the tops of significant downswings and vice versa. I am showing one piece of the puzzle only which is entries only on trades many here would consider "risky" or "impossible" to take consistently.
close both 97.75