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Catching Big Waves - a trader's journal of surfing the the markets


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Catching Big Waves - a trader's journal of surfing the the markets

  #551 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

Crude has reached an area that I have been watching for several days.

[img]https://nexusfi.com/v/bf9w8x.jpg[/img]

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  #552 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

Price is also nearing the midpoint of a very well formed channel

[img]https://nexusfi.com/v/e3x64b.jpg[/img]

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  #553 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


extremely overbought on the 93 minute

[img]https://nexusfi.com/v/rpb7za.jpg[/img]

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  #554 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

This market has a lot of momentum, but this is one of the times where I may fade a market, depending on what volume does.

101.70 is the high end of resistance so, at least psychologically and mathematically, the risk to reward is at it's prime. For now I'm just watching.

Started this thread
  #555 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

That's is the bar I wanted to see. Step one complete.

[img]https://nexusfi.com/v/5c8z96.jpg[/img]

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  #556 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

[img]https://nexusfi.com/v/5uqckn.jpg[/img]

Started this thread
  #557 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

1 off at +20

[img]https://nexusfi.com/v/h9jqup.jpg[/img]

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  #558 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

stop tightened

[img]https://nexusfi.com/v/fdpc3v.jpg[/img]

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  #559 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

I am now in this trade for "free", with a 20 tick profit and 20 tick stop loss

[img]https://nexusfi.com/v/m3encr.jpg[/img]

Started this thread
  #560 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


[img]https://nexusfi.com/v/8fvscs.jpg[/img]

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Last Updated on May 23, 2014


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