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Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Been selling the swing highs here to see if we can get a move to the lower end of this upper distribution. We pushed the developing POC back on this last move and I'm scaled out of 2/3's position here. Let's see what we get into the close...
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
OK, not enough push lower into the close. Was able to get 2 2/3's scale outs at least. Not going to hold after the close so flattened runner at the close.
i wanted to do a quick recap.for this am on cl.My plan premarket was to,find a long at yest poc area,or within yest value area.It just so happened, that the vwap 1st std dev was the levelthat cl chose.That is fine,as it was inbetween yest poc/vah.Because of the clear stairstepping up of the value areas in the previous 2 days,a long bias was what i had.Now, there wasnt even any overlap, value was clearly higher.
Upon the open,we had a 40 tick range right into 10 am.This ,in itself created a bit of a problem for me..Kind of lulling me into disbelief.I actually took a short below the rth vwap,trying to get down to my long area.Well,i covered the short,for a miniscule profit.I have to say, ive been too aggressive with these vwap retraces.The only time they should be taken , is when there is a clear direction.As it was, the short was just above single prints on todays rth tpo.
The point is, as per the big pic,the only short should have been much higher, in single prints .And likewise, the long i had initially described premarket,wasnt taken.Why?2 reasons,first i was lulled into complacency by the lousy action, and 2nd,i had just covered a short.Mentally , i dont switch directions that fast...oh, also, i try not to initiate a trade after 10 am on inventoryday.I like to wait until after the news.
Long story short, i should have waited, for the correct trade, as per the big pic...also, lay off the vwap trades unless there is a clear direction.Trade the extremes
On yours in that vid i could see 4 nice spike tops around $90
Mine does not look like that?
im usuing a 330 m chart RHT but it sould be the same as your daily RHT in theory
How do you have your data set up..... like merged...back adjusted
" 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"