dont take personally,if i don't have down day one or 2 day/week i not 'pushing' hard
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ES Journal - 2015
- Thread starter Buy1Sell2
- Start date
I been trading nearly four decades on time bars, am too tired to switch now, I like knowing when bar will end, give me time to run for cup of coffee, get cat off top of curtains etc....
I understand some like them. I have an automated method that uses Heiken Ashi bars.
Crude looks good in Renko for a dead cat bounce setup.
Attachments
Long Term, I have made five attempts thus far, taking profits on half once and still long from last attempt. I still think Crude will go lower, but my opinion on markets seldom right and my methods are far better than my opinions, LOL
Attachments
--03/23/15 Mon. Afterhours PM. Short 2095.50. Initial protective buy stop is 2113.00 basis June
--03/24/15 Tues. Afterhours PM. Price is 2084.00. Stop will remain the same. Not enough movement yet for stop to be lowered.
--03/25/15 Wed RTH. Price 2058.50. Will stay short for now. Same stop. Will be lowering stop soon.
--03/30/15 Mon Afterhours PM. Price is 2071.50. Staying short now. Have not changed stop yet.
--03/31/15 Tues Afterhours PM. Price is 2042.75. Staying short for now. Same stop at the moment.
--04/03/15. Good Friday close. Price is 2039.75. Still Short. Price has not moved enough yet to lower my stop. I had thought perhaps I would have had a chance to lower it, but not so far. Stop out levels would all be in the noise.
--03/24/15 Tues. Afterhours PM. Price is 2084.00. Stop will remain the same. Not enough movement yet for stop to be lowered.
--03/25/15 Wed RTH. Price 2058.50. Will stay short for now. Same stop. Will be lowering stop soon.
--03/30/15 Mon Afterhours PM. Price is 2071.50. Staying short now. Have not changed stop yet.
--03/31/15 Tues Afterhours PM. Price is 2042.75. Staying short for now. Same stop at the moment.
--04/03/15. Good Friday close. Price is 2039.75. Still Short. Price has not moved enough yet to lower my stop. I had thought perhaps I would have had a chance to lower it, but not so far. Stop out levels would all be in the noise.
wow. crazy drop. I wasn't trading today, but I don't think I'd have caught any of that drop even if I was, if i'm honest. Just crashed out of nowhere in one powerful move.
It was crazy indeed! One of my concerns was going to be liquidity. Leading up to it, the contracts traded were extremely thin, and even during the drop, there just wasn't much volume at all at any price level. Who knows what would happen if you hit a market order... and if you were hoping to get in with a stop limit at a specific price... you would almost have to guess right which level would be hit because looking at the tick chart, many price levels are skipped.
The first bounce back up really surprised me, but as the seconds ticked away, that support level at 4284 really stood out for me. Once you could identify the level the first time price came down there and reversed sharply up, there were 3 bounces, each forming a lower high after the bounce. So then you gotta wonder if the next time price comes down if it will bounce yet again, or penetrate. Given the lower highs, I favor penetration, but there is nothing to stop a little dip below and then a flurry of buy orders coming in to push price back up and have it really take off. (if fact, the third bounce does drop a tick below.. which is micro of course, but sometimes this is enough to set off a chain of events, but in this case, the buy orders did come in)
Here of course it continued down after the last lower high... but even in this very fast moving yet thinly traded market... price action and identifiable levels sure seemed to work as always!
