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Well have ot have a small talk about it when your free
I tried all week end playing with all data settings ect and could not get it to look accruiatly like yours data on ToS
It has been frustrating me since you threw that spanner into my machine
" 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"
So are you expecting to fade this C auction area against yesterdays profile value area and structure
Or are you expecting a continuation of price exploration to the down side bacause we are back into this lower price bracket?
Also the fact that we have tried to push higher today against that whole area (highs 93.87) and failed leading to a clue of lower prices?
Im feeling abit overwhelmed today for some reason
" 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"
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
I was short in B period but yes, a probe of yesterday's levels are clearly in order as the buyers dried up at the highs. A test of the bracket low seems possible as well and will remain short until the market comes back into balance/value.
Looks like we are still one timeframing lower. Let's see how we react at the 92.40-92.60 level, we might find buyers there. If we go through that level, then I expect the rest of the CLIFF GAP below to be filled
" 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"
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, the first thing to know about trading is we aren't looking for "profits", we're managing risk. That means, we want to establish a position and protect it by taking profits at key levels or at a minimum, levels that will give us guaranteed protection.
I manage my positions in 1/3s and scale out to protect my position while reloading at key retracement levels. You don't need to trade in 1/3s but that extra 1/3 scale guarantees a profitable trade when taken off. 1/2s are tough but still doable. If you're trading with a smaller a/c, just work on a 2 lot with your first scale guaranteeing a BE while the second could be at a key tactical level. Once your account is at a level to trade in 1/3s, then look to add a runner. Its very difficult to hold onto a 1/2 position psychologically. I won't share all details of what and how I manage and enter/exit positions but that's the gist of it.
" 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"
OK here is what i have beeen looking at this morning in my home work
We have CL report out today at 10:30
Since the new year we gaped up higher and have been in consolidation since, with no over all direction
We have fourmed a sideways bracket whick we have been trading in the last 5 days in balance
Below we have a 4 day bracket
We broke out of the 4 day range below and since we gaped up we have fourmed a bracked
Here is the picture with out the composits and shows the two Volume Value areas
The bracket we are in and the bracket and with value areas
As we have been in up small uptrend from the last consolidation period
From what i have speculated, we trend...consolidat...trend to the next high volume area
So from what i can see...we are going to break out of consolidation to find higher value
or
We are going to head back down to the next high value area
Lets see what the 10:30 inventories can spark
" 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"
