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CL Crude-nalysis
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CL Crude-nalysis

  #141 (permalink)
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Good stuff today on oil with a nice 200 tick move off the LOD!

30min chart strong divergence going into the low of the week....a load the boat type setup.

Buy the breakout of the low volume 30min inside bar.

Exit doors are the momentum divergence at the highs and the higher highs on lower volume.

Reload on the retraces.

Last big retrace is the mid range pullback with the trend still intact so high probability to retest the highs. Diverged on the 1 min chart. Price also puts in a Hidden Divergence, new momentum low without a new low in price = upside strength and one more push up!!!

Final exit door the same as the rest.......played off the 1 and 5 min charts.

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  #142 (permalink)
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BTR411 View Post
I just read the chart, let things unfold in front of me and go into the day with no directional bias whatsoever.

Areas of interest are the big pedigree price levels like the previous high, low, close, current open, and Globex high/low (broken into the Asia and London sessions).....and then the levels that are further out like previous week's H/L, opening price of the week, etc. Anything else like pivots or profile levels will add weight to a technical setup, but means little to me on it's own. Overall, the overnight H/L's and previous day HLC play the biggest role for me.

As far as the DOM, yes I will watch it at times looking for unusually larger orders at certain price levels and how those orders are managed in regard to the price movement.



When you say you watch the DOM - do you just use the normal DOM or do you have Jigsaw or something specific for watching order flow?

 
  #143 (permalink)
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DeadCatBounced View Post
When you say you watch the DOM - do you just use the normal DOM or do you have Jigsaw or something specific for watching order flow?

Nothing fancy, just the regular X_Trader DOM, but keep in mind, the role of the DOM in my overall edge is minimal at best......for me, it is easier to read the order flow through the price action of the candles.
-----------------------------------------------------------------------------------------------------------------------------------------------------

Looks like smart money was not going forget about this move.

3 more pushes to the upside after the deep mid range pullback. Volume drys up on the retraces.

Right into the opening of the week and last week's VAL for another 100 ticks or so.

Final divergence on the 3 pushes to the upside.

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Attached Thumbnails
CL Crude-nalysis-cl-end-day.png  

Last edited by BTR411; September 11th, 2014 at 05:10 PM. Reason: annotated chart
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  #144 (permalink)
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Didn't quite make it down to lower trendline, but that very well could be it for the major down move in my view.

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I am in neutral mode, but any daily acceptance up above that same 92.75 area will have me looking for a new bull move over the next 2-3 months up to 103.

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  #145 (permalink)
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If it moves, trade it!

Long on the tap out of the London low and short the retraces down to the previous week's low!

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  #146 (permalink)
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I've just about decided that trend lines on an intra day chart are almost useless.....I'm not there yet but getting close.......I'm just saying.....

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  #147 (permalink)
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PandaWarrior View Post
I've just about decided that trend lines on an intra day chart are almost useless.....I'm not there yet but getting close.......I'm just saying.....

i agree, the price will go wherever it wants or really wherever smart money wants to move it.

The only ones I find helpful is a small trend line as price comes into a turn that acts like a "break point" or a regression line/channel.

If you can keep your wits about you while all others are losing theirs, and blaming you....The world will be yours and everything in it, what's more, you'll be a man, my son. - Kipling
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  #148 (permalink)
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PandaWarrior View Post
I've just about decided that trend lines on an intra day chart are almost useless.....I'm not there yet but getting close.......I'm just saying.....

Really?

Hmm...
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  #149 (permalink)
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PandaWarrior View Post
I've just about decided that trend lines on an intra day chart are almost useless.....I'm not there yet but getting close.......I'm just saying.....

Completely agree.

Added to that (which im sure very few will agree with), is that in my opinion 80% of what happens intra-day is noise. There are 1 to 2 real moves per day in a given instrument. Unless you're scalping for ticks, the goal should be to try to align with the 1 or 2 major moves of the day and stop trying to make sense of every little move or trying to constantly draw trendlines to figure out which is the 'real' one. Figure out what the market is trying to do, figure out the context of the market. Then trade the major move by getting in using whatever method you prefer.

Diversification is the only free lunch
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DarkPoolTrading View Post
Completely agree.

Added to that (which im sure very few will agree with), is that in my opinion 80% of what happens intra-day is noise. There are 1 to 2 real moves per day in a given instrument. Unless you're scalping for ticks, the goal should be to try to align with the 1 or 2 major moves of the day and stop trying to make sense of every little move or trying to constantly draw trendlines to figure out which is the 'real' one. Figure out what the market is trying to do, figure out the context of the market. Then trade the major move by getting in using whatever method you prefer.

shhhhhhhhhh!!!

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