CL Redux
- Thread starter schizo
- Start date
Try to post trades in realtime, Lazy.
Your '102.90' short was about 2 hours and a hundred or so ticks too late.
Your '102.90' short was about 2 hours and a hundred or so ticks too late.
sorry cant do as I slept during time order was done. I guess I could post original order... I did actually but on another trading site.
Now exited and waiting for new retracement to reinvest. This week was good and is now over. Enjoying new account high.
refresh my mind over weekend.
That was pretty much it for me today.
Nobody else traded today?
Quite a tough week again for me.
Feels as though the CL market 'changes it's mood'drastically each day, making it hard for a single method to make profit consistently.
I'll struggle on.
Hope to see some calls from Nodoji, and schizo, too.
You won't see any calls from me. I've revealed how I trade and anyone on ET who's studied my posts, charts and previous live calls over the years can pretty tell you where I bought or sold on any given day.
I only go long in a strong uptrend, only go short in a strong downtrend. If a 1-2-3 pattern appears on the 1-min at a key trend line or a "previous S becomes R/previous R becomes S" level, I'll trade with-trend using the 1-2-3 early entry tactic (see Trader Vic). If a 1-2-3 pattern appears on a 1min chart at a key channel zone or other key S/R level from a longer term chart, I'll take a counter-trend trade ONLY if a particular signal occurs in a particular way and the R:R profile fits my criteria.
If price ranges around a flat 5min 20EMA and the range is wide enough, I may scalp the range extremes for small targets. This, however, is not a part of my trading plan.
That's all I do, nothing fancy
Quote from NoDoji:
You won't see any calls from me. I've revealed how I trade and anyone on ET who's studied my posts, charts and previous live calls over the years can pretty tell you where I bought or sold on any given day.
I only go long in a strong uptrend, only go short in a strong downtrend. If a 1-2-3 pattern appears on the 1-min at a key trend line or a "previous S becomes R/previous R becomes S" level, I'll trade with-trend using the 1-2-3 early entry tactic (see Trader Vic). If a 1-2-3 pattern appears on a 1min chart at a key channel zone or other key S/R level from a longer term chart, I'll take a counter-trend trade ONLY if a particular signal occurs in a particular way and the R:R profile fits my criteria.
If price ranges around a flat 5min 20EMA and the range is wide enough, I may scalp the range extremes for small targets. This, however, is not a part of my trading plan.
That's all I do, nothing fancy
So how do you go long/short in a strong trend?
I use the 1-min chart to buy/sell pullbacks as soon as a new high/low prints. Study various ways to do this that fit your risk:reward parameters. You can simply buy or sell a break of the last high or low, or you can buy or sell once price pulls back to the 1-min 20EMA without breaking a 5-min price bar by more than a tick or two. Or you can buy or sell little 1-min consolidations when price is so strong or weak it doesn't stage a real multi-bar pullback.
Look at Wednesday's action for an example of a strong trend.
There's narrow range consolidation in pre-market and just before the open the market tips its hand by way of a symmetrical triangle downside break. Watch the 1-min chart to see how price reacts to a pullback to the underside of the LTL. The 9:00am ET 1-min bar pulls back to that LTL and closes just below it. Time to trail a sell stop below the low of that bar.
This trend is so strong price doesn't even stage multi-bar 1-min pullbacks. All you get is a couple tiny inside bars at 9:06 and 9:07, and a narrow range bear flag between 9:11 and 9:16. This is where traders find it so difficult to enter, but all you have to do when that happens is place your sell stop below the last low! (Or last high in an uptrend.)
At some point the trend reverses and you'll usually have a second attempt failure to continue and a chance to exit break even or for a small loss. I consider that final trade of the trend my tip to generous market for offering such easy money on the way down (or up).
Does no one else do this? Am I the only one who sells when new lows are made and buys when new highs are made?