Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
CL has tested shorts RESOLVE like i have not seen in a while. Still short. Shorted 42.68, 42.54 on FLUSH UP before DOE report, Cover some 42.26. My dreams of 40 area getting tested is getting SHAKY by the minute. Looks like FOMC minutes will be the next catalyst.
For me, shorts will be over for the time being if CL rips above 43.20 area. If forces beyond our control wants to defend 42- it does not matter what my patterns, context etc.. are telling me. I have to adjust. Time to listen some of gentle George songs.
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.
When certian MACRO catalyst are under way, i do tend to get all excited. I normally do not trade Globex session unless macro head winds are all around. Otherwise 8.30 am till 2.30 pm eastern time. When i trade Globex session, i place stop loss and do not watch screen. So Globex trades are more relaxing vs NY RTH session.
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.
US $ over bought, CL over sold. FOMC minutes will either get CLOCK reset or over bought will become more over bought and oversold will become more oversold.
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.
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.
Too complex and all the work for 12 ticks. An example of some pattern. No context but busy drawing lines all day.
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.
YELLEN: Just because we're not using the word 'patient' doesn't mean we're going to be impatient
Dovih statement- Key word " PATIENCE" remained in the statement. A CNBC host was wondering why CL is up? Trade first and ask questions later= Mark Fisher. 42 level is secure. They had every opportunity and reason to break it but no go.
" For me, shorts will be over for the time being if CL rips above 43.20 area. If forces beyond our control wants to defend 42- it does not matter what my patterns, context etc.. are telling me. I have to adjust. " Trade the Plan not candles etc.
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.
What's next. What's in store for Thursday and Friday? I will have a better sense as to what Asian and European traders do during Globex session.
My hope is that CL runs another 200-300 ticks to the upside. It will be easier to find short location. Otherwise have to wait for pullbacks to try longs on Thursday.
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.
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.
Nice call. That CL pop after the announcement was shocking. In an environment where oil supply / demand balance seems to dictate prices, why would the Fed no longer being 'Patient' affect the price so severely ? Short squeeze ?