mfbreakout 

" CL either takes out 51 during Globex session and make another run for 52 area or she can go down to 49 area. Beyond 49 all bets are off for BULLS- as far this week is concerned." Once 51 got taken out 52 and beyond was the target. Too bad it happened during my sleeping hours. ONLY thing i could do when i got to the screen this morning was to short for a 40-60 ticks pullback befor CL continues her upward move. Short 52.54. Cover 52.12 and holding small short to see if i can get 51.50 area. ONLY refrence above 52.50 i have is 53.50 area as a supply zone. Basically I trade 2 kinds of set ups. 1) 40-60 ticks pullbacks when shorting against an up move, 2) With the trend. For last 6 months i basically have been ONLY interested in shorts. Yesterday price action and subsequent price action during Globex session have started me thinking about longs. Targets for trend days are 200+ ticks. Average hold time for both loosing and winning trades is around 2 hours.

Now after 2 hours, 52.54 looks pretty SURE short. No, it was not. There are very few sure set ups in day trading especially the ones which gives 100+ ticks.

Out flat 51.42.

mfbreakout 

For fun. Following chart with lines, color etc is not that bad compared to what we see out there but still all the work for what?

Yes sir I agree

Whilst putting this that and the other together I missed the NO BRAINER at 5210 short

So I came up with this (less is more)

-Bill_M



EDIT

OIL: +3.3% on Down Dollar - a bad jobs report will give you more of that. That's the way i am trying to trade this morning job report.

Glad to see the Bureau of Lies and Scams is still on their A-game

The CEO for the Gallup Organization came out with a statement/ report earlier this week saying just about everything coming out of BLS is bullshit for the sheeple

Sounds fair enough, trade the tape

Cheers

-Bill

EDIT

Mr Denninger does an outstanding job (he uses math, math does not lie)

You decide

Quoting 

This is a crap report; all of the so-called "improvement" was due to outright lying via "seasonal adjustment" and what's worse is that the BLS is now admitting that we put 600,000+ more people into the working age population group last year, almost certainly via illegal immigration, than is normal for a given year.

https://market-ticker.org/akcs-www?post=229816

Well that was an interesting 1230ET wind down/ close. Yes I know most say that London closes at 1130amET, but I always watch at least up through 1230. Are we going to have that occasional fun filled Friday afternoon?

Anyway on to what I was watching

1226 no size contesting the offer, ask/ bid +675

1227 could only pull back/ open in the top 3/4 of the prior bar (1226 was a nice VSA spike up)

The rest is history

-Bill

Since BigMike started sharing his trades via Tradervue, here are 2 from me. I will highly recommend using this performance tracker. Once you loose $10K couple of times, it becomes relatively easier to make $3-$5K. There is no FREE LUNCH.
CL will do this and do that analysis ONLY matters when a trader has skin in the game.

Fridays tend to be worst day of the week for me. I am always very careful on Fridays.

Why instead of being up $15K on the day, i almost gave $3K away?
because i did not follow my RULES.

RULE is to short biggest, baddest and tallest GREEN bars. I followed that on 2 trades today but 1 short which just started out as so called lunch money during lunch hour caused me not to fully monetize trades which i took per rules.

During lunch hour, i shorted 51.73 with 1 car. Since this short does not fit my short criteria, i shorted with1 car. CL comes down to 51.32 area and before i could cover she is back up to 51.53 area. I have seen this 1,000 of times and since i only had 1 car, i did not care about this bounce. After 30 minutes of back and forth- CL jumps to 52.30 area. Now, i am seeing some energy in candles. I added to short at 52.40. CL is at 52.80, i added more , CL is at 53 area and i loaded up.

This would been OK but i added little bit too much at 52.40 area for my own liking. That 1 car short at 51.73 area caused me to miss REAL moves when i was fully loaded.

All my mess up trades start with something casual with 1 lot. 1 lot or 10 lots- please follow the RULES.

mfbreakout 

All my mess up trades start with something casual with 1 lot. 1 lot or 10 lots- please follow the RULES.

Amen to that! Funny how a 1 lot trade can spiral into something that makes one look like a total ass.

I wonder if these guys are right?

-Bill

Crude Oil [AUTOLINK]Breakout[/AUTOLINK] Levels