Day Trading Crude without indicators.

Quote from mfbreakout:

Covered some at 106.74 and got stopped out on rest at 107.16.

Now short 107.94. I misjudged the up move as price pulled back to 106.74 - OR high - after confirmed A up.

Overall still a good day.

NOTE: main difference between yesterday up move and today's is that yesterday up move was with too much speed , which generally is unsustainable and that's why CL pulled back 70 ticks after hitting high of 106.72.

Today's move is a very measured up move. No speedy, Jerky up move and price has not pulled back as it hangs around 107.95 and torturing my short (lol).

So, i knew with this short that to get paid I will have to hold it for some time and still set up may not work out.
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short 107.94. got stopped out 108.11 -18
 
Sorry, I'm getting a dead link.

Did you mean www.gri2.com?


Quote from mfbreakout:

I have received lot of questions about support and resistance. I subscribe to multiple subscription services.

Attached sheet from Global trader www.gr12.com is my favorite and the only one i pay attention to.

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Euro close long 108 out 108.40. +40.

Following is in response to questions i received.


The reason i get out with 40 ticks on most days because ATR for CL is around 2.3 and in my experience and way of trading, 40 ticks are quickest and easier to come. CL is now at 108.75 and it does not bother me. Between 2 trades today, i have 44+40= 84 ticks.
 

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The day i do not take long at OR high of 108.66 after A up, it comes down to 108.66 and runs up 50 ticks and is heading for 110 (lol).
No shorts for me till VOLUME exhaustion at resistance.




RULE #1: After A up, if i take counter trend trade, i book gains quickly and thank GOD.
 
First off would like to thank MfBreakout and others who have been posting on this board. I just recently saw Mark Fisher on CNBC and after doing som research came across his book and have just started reading it.

Just a quick question please. If Fisher states to use an opening range of say 20 minutes and he gives the A/C values for this opening range how do you adjust for if you want to go to a lower time frame like a 10 minute OR? How would you know what A/C values to use ?

Thanks and great posting !!
 
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