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76.40 area got tested twice. Once during Globex session and one during NY session. Out flat 76.64 flat. Whenever it breaks with CONVICTION- it wil be worth waiting for it. Otherwise CL will be back up to 80 area at some point.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
stopped out and long 1047. Out some 1064 and holding rest.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
I can not believe that i traded Crude for 4 years day in and day out and never looked atGC, NG, ZS, KC, CC etc. Looking back i think the main reason was that these beauties require wider stop loss than i felt comfortable with. What a dumb ass reason/logic.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
ZS up and up. I am going flat and will wait for a pullback to try long again.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Weekly, Daily, 4 hours and 1 hour all mixed together to put on a short and long trade in ZS. I use same logic/set ups for every instruement and trade. When i do not follow the order or try to make something when things do not line up, -ve surprises come in spades. I use lower time frame to scalp etc but REAL gains are made from following bigger time frame set ups.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Cover some of the shorts around 1071- on reversion to the mean pullback.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
" Gold at a four-year low should find solace after rates at which bullion is lent for dollars turned negative, signaling tighter supply, Natixis SA said.
The CHART OF THE DAY shows the three-month gold forward offered rate has turned negative on a weekly basis. Prices rose in three of the past four times this occurred since last year. There’s now a “limited window” to bet on a gold rebound, Natixis economist Evariste Lefeuvre said in a Nov. 10 report.
A form of backwardation, when earlier prices are more expensive than for later dates, the negative GOFO rate signals that dealers are paid to lend metal against cash, rather than paying for the privilege. As bullion slid to the lowest since April 2010 this month on a stronger dollar and outlook for higher interest rates, demand for U.S. Mint coins increased.
“There is clearly an optional pattern since the inversion was almost always followed by a rise in prices,” Lefeuvre wrote in the report. “We would recommend a tactical long position on gold since the recent inversion has been particularly severe. We maintain our bearish view on gold in the medium run though.”
Gold for immediate delivery traded at $1,156.89 an ounce in London yesterday and is about 40 percent below the record reached in September 2011. Prices will fall below $1,000 by mid-next year, according to the Natixis report."
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
While I'm waiting for oil to recover from its recent move, here are some pretty pictures. I started late this morning and so saw the failed A down after 8:30 cst. I am reading the current situation as a HL on the "longer term" chart after yesterday's double bottom. For the time being I have a long bias but I want to see Oil stay above the ORH and the Open for me to remain convinced that we are in fact in a trend day up. Otherwise I would favor rotational trades with a bullish bias.
Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
KC, CC and ZS are on my mind along with usual CL and NG. short in CC and KC.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.