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ZS, ZW, HG, NG, etc. They will be stuck at some area for hours and then BOOM. Typically it's best to trade from one side. Long or short. Why? because it takes days, hours and hours for set ups to line up. Why muck it up by being ahero from long and short on the same day. I have tried and it's just not worth it on most days.
Are we in a bullish trend, bearsih trend? Very strong arguments from both side. All i know around 9.45 am this morning there were shorts and shorts. One just had to HOLD the position for 30-40 minutes to get paid. If one can do that by looking at DOM, T&S , Level 11 for 40 minutes , more power to them.
I just wonder how long one can do that before becoimg cross eyed?
Not interested in longs in front of A down and -ve internals regardless of whatever support charts may show. I covered around 1117 due to ATR range. 1129 to 1115= 14 points. It took 2 hours of back and forth to get to 1121 from 1115 area and TF is back down to 1117. Maybe it's forming double bottom etc. but i give more wieght to what 500 stocks and different sectors of the market is doing vs double bottoms, levels etc. I more interested in shorts today based on what market is showing.
CL gave me more headaches today then she has in a long time. I basically ignored failed A downs all day and was in shorts all day. Loss within limits and still holding shorts.
Every time i ignore ACd and do something else- it reminds me RULES of the game.
Added to short 97.70. Trying to manage my way out of CL.
CONTEXT: My main reason for gettting bearish in CL last night is due to the fact that even with all the troubles in Russia/ Ukraine- CL continues to be very weak. Nothing new here. CL has been weak for 2 weeks now. Gold ha sjumped 3% in 2 days on the news but CL no bid. So, instead of sticking with my daily routine of trading ACD, i decided to test event driven trades and it has not worked out so far.
Since you mentioned a two week time period, I thought I'd drop a weekly chart in....I know you see this but perhaps others reading your thread do not have this kind of perspective.
This chart goes back to 8/14/2009...so 5 years worth