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Ok i have scaled out 3/4 of this position i was in
I dont noramlly trade with 4 it depends on what situation i am in
Today was either add to the small losing day with the position to turn it posotive
I am going to hold this position into the crude report at 11:00 today
If we see oil tank on the report it will be a great end to the week
The market choses now, im risk free and going to sit and wait
this 11:00 EST oli news is going to be a weird one as its normally on a wednesday at 10:30 EST
Traders hate change to routine
" 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"
Really dissapointing day today....dont fight the tide.Thats basically it.I look at levels above, and determine a bias,but the developing day trumps my short bias.I have been using the mas on and off forever.
Basically, they work well when there is confluence.The best trades occur off the vwap levels.
Also,to take a counter trend trade,against a sloping 15 ma,i need adequate room, and the entry should coincide with an important pivot
" 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"
I have been looking at the last 3 trading profiles combined
I have also been looking at the bracket we are in TPO compostie and longer term Volume composite
Since we had the break out rally and the gap up on the 31/12/2012 we have just been rotating in a high volume area
Here is the high volume areas on a volomue composite since roughy 21/02/2012
as you can see we had a high voulme bracket below @87.50 to 84.80
we broke up in a up trend and rallyed up to the next high vloume area
We have a break out level ahead of us @ 94.56 which will act as over head support and the high of the TPO composite
we are clearly in a bull market at the moment
The longer term picture shows we are right in the middle though, at the higher end of a bracket
I expect to see a test of the 94.56 break out level this week...weather we will see a break to the upside or not is another thing
1. So today my plan is to buy the lows of the 3day composite looking for rotations back up into value above
2. If we fail to hold the 3 day value area i will look for a break out to the next area below $92
" 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"
IM going to make a new habbit of not showing my entries any more and focus on more analysis, market structure and trade locations
I bought the open as i said im expecting buying in this area and rotations up today untill we show we are looking to break lower
Im long 92.50 and im expecting to see a revisit of $93 today
lasy week $93 was a choppy area
This is also in the middle of that cluster of high volume on the composits
so what we saw on the open was a "open Drive long"
What i want to see now is this single TPO wich hold and value to start moving up with price
This is a great monday morning open....nicely executed too i must say
Now just to wait for the rest of the day to unfold and to monitor the condition of the market and watch sharply for change
" 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"
If this situation plays out right, im going to try hold as long as i can today
Its the markets choice now
we could just see a range bound day inside fridays profile
" 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"
