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)
Today it is too late. But why not sell US$ or buy AD, EC, or CD to compensate for losses in CL, when the CL market is closed ? The currency markets were open today.
CL gave enough time to get out of shorts during Asain session. Covered shorts 49.82.
Waited for NY open and then long on pullbacks at ORL. Long 50.20. Out some 50.74 and flat 50.68 as CL was consolidating around 50.80 area. Long again 51. 04, Out some 51.51 and flat 51.43.
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.
Chart. There are no new longs for me in 51.80 to 54 area till API report and DOE report. Longs ONLY on pullbacks. CL will have to attack 52.45 etc without me.
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.
Chart looked to be a range morning at least and perhaps all day if price didn't break above the upper compression zone but it did so its turned into a trend day....the possibility of which was easy enough to see from the 60M chart.
I overslept a bit and so I missed the better entry at the top of the zone but my entry wasn't terrible and the risk was acceptable.
Long from 50.22 for 20 ticks then went and took a shower and got some food. Came back to see price breaking above the last compression zone of the morning....waited around to see if it would hold then bought 50.66 at the top of the zone and took it off at +70 ticks as priced reached 51.66, ten ticks shy of my target of 51.71 and began to reverse. Of course it continued on after some consolidation but that was enough.
I thought about being short from the high of the upper compression channel prior to the bounce up, but since I was hungry and needed a shower, I passed. The target zone at the bottom zone was the perfect exit location.....
All the orange lines at the bottom are the demand zones from the globex 15M chart.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris