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CL Light Crude Analysis TPO/MP/VWAP/VPOC


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CL Light Crude Analysis TPO/MP/VWAP/VPOC

  #481 (permalink)
 
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 bobarian 
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greenr View Post
I took a bad start to the day here

not in the zone had banta with the g.f this morning and seems im not in the right frame of mind to trade

Calling it a day today

Happy trading to you all

hang in there brotha, Monday is another day!

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  #482 (permalink)
 
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 Private Banker 
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In a holding pattern here. Market came right back up to my entry area after scaling out of 2/3s. I do not begin trailing my position until the market moves out of its initial balance so I was in the situation of having my remaining position stopped out. We'll see how it goes here. Pretty tight range so far after that initial selling tail. Market looks like it wants to break lower.

**I'm out. That was looking like a spike to take out 1/9's low. Took a look below and popped right back up. Definitely a good heads up that may be it. Pretty tough day so far. Thought I was wrong on my direction but its rare that an opening drive gets taken out so the short bias made sense.**

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  #483 (permalink)
 
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 bobarian 
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1/11/2013
An interesting start,i took a short premarket just before the open,and my stop was too tight..Nevertheless, we opened at yest lod single print area,and i didnt realizee that until i was stopped...Bad prep on my part,as i wouldnt have had such a tight stop....Shoulda coulda woulda....whateva...need to be prepared


Ok, so we fell,no surprise there.As PB mentioned, there was a short on a pb to the dvwap,but i was a little miffed at my previous failure, and chose to wait....

I am going to include a video of this am...its real time, and goes over my real time thoughts.The main premise now,is identifying extremes on the rth mp chart that have confluenced with yest levels/eth levels, etc.Alot of what i am searching for has to do with price action that is relative to the developing rth levels.Also,from a very basic standpoint,what is price doing on the tpo.For example, just now, the c period doub topped at b period....the key, however, is that cperiod lows were not higher than b period lows.Essentially, we were sideways, but the short at the dvah,was not just resistance prisewise from earlier, but also the eth vwap....big confluence.

Also a big consideration, was the previous swing low was well below the dval.So,with that said, if cl gets to the dvah area, and there is confluence(there was)that is a nice short ,imo.And as it stands right now,we are still 1 timeframing down.

Why does this feel different?I am relying on the developing levels on the rth to give me areas, all i have to do is line them up with levels on the rth tpo,and be aware of eth vwap.

The biggest consideration, tho,is how is price behaving relative to the developing value area?Simply said, if it overshoots in one direction, we must look at the opposing value level as a potential reject...with confluence of course.

bare with me, the video is a litlle sloppy, but the thought process is coming along, i believe...less reactionary trading, more in the moment

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  #484 (permalink)
 kulu 
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Didn't trade today, but my levels look like were respected. Nice move up from -2SD to 2SD






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  #485 (permalink)
 
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 bobarian 
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i just realized something that i obviously missed on the open.After watching my video, this is it.Not only did cl drop from the open at yest lod, look at the vol at that level for the eth tpo....nothing...

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  #486 (permalink)
 
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 bobarian 
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i watched the video again,and if i hear myself say relative one more time!oy....anyway, i feel these videos can be very helpful,as i can listen to my thought process,and see the good and bad.Today was a bit of both.For sure, the shorts i took were good, although the management wasnt...Ill iron that out...

the charts in the video are easy enough for me to see, however, i need to be better prepared off the open,and be aware of the levels.Seeing the trades in real time obviously needs to happen.Its slowly coming along, imo,but as with most things for me, it takes time.

Also, i was thinking about posting the videos in my journal,as opposed to here.I dont want to clutter up the thread with my ramblings...have a great weekend

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  #487 (permalink)
 kulu 
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Hey,

I hope everyone is having a relaxed and safe weekend.

Now, let's talk about opening types. What is the difference between the Open Test Drive and Open Rejection Reverse? To me, by definition, they seem like the same thing, that is, Open in one direction, test and get rejected at a key area and reverse and go the other way. Is the difference the use of Test and Rejection at the Key area?

Also, when can you tell the what type of opening type it is? Is it after the first bracket has been formed? After the first two brackets have close? It's a little bit clearer for an Open Drive since price opens and just moves unidirectional.


Thank you

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  #488 (permalink)
shanemcdonald28
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bobarian View Post
i just realized something that i obviously missed on the open.After watching my video, this is it.Not only did cl drop from the open at yest lod, look at the vol at that level for the eth tpo....nothing...

hi
I am sorry but I dont fully understand the low volume at low of day. I want to understand it more clearly.

thanks for all of the information.

shane

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  #489 (permalink)
 greenr 
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kulu View Post
Hey,

I hope everyone is having a relaxed and safe weekend.

Now, let's talk about opening types. What is the difference between the Open Test Drive and Open Rejection Reverse? To me, by definition, they seem like the same thing, that is, Open in one direction, test and get rejected at a key area and reverse and go the other way. Is the difference the use of Test and Rejection at the Key area?

Also, when can you tell the what type of opening type it is? Is it after the first bracket has been formed? After the first two brackets have close? It's a little bit clearer for an Open Drive since price opens and just moves unidirectional.


Thank you

Hey kulu

I was going to try answer this one the best i could....

but

I thought it would just be best to wait for Private Banker to explaine if he choses too

He knows this stuff better then the back of his hand i imagen

if not ill have a shot tomorrow

regards

" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
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  #490 (permalink)
 
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 Private Banker 
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kulu View Post
Hey,

I hope everyone is having a relaxed and safe weekend.

Now, let's talk about opening types. What is the difference between the Open Test Drive and Open Rejection Reverse? To me, by definition, they seem like the same thing, that is, Open in one direction, test and get rejected at a key area and reverse and go the other way. Is the difference the use of Test and Rejection at the Key area?

Also, when can you tell the what type of opening type it is? Is it after the first bracket has been formed? After the first two brackets have close? It's a little bit clearer for an Open Drive since price opens and just moves unidirectional.


Thank you

Good question. This is the way I view the differences in the two.

Open-Test-Drive is when the market opens, tests a clear point of reference (previous, high, low, value level, poc) and reverses the other direction with conviction.

Open-Rejection-Reverse is when the market opens and appears to be auctioning in one direction but meets strong opposing trades and goes the other direction. This can be seen on the footprint chart as either buying absorption at lows or selling absorption at highs cutting off the opposing traders. This also happens when the market hasn't hit any major point of reference but simply loses directional control and turns around.

They are fairly similar in behavior but I would view Open-Test-Drive as price testing a key level and volume dries up whereas the Open-Rejection_Reverse is met with high opposing volume if that's an easier way to look at it.

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