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COMMON SENSE
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COMMON SENSE

  #1081 (permalink)
Elite Member
Valdosta, GA. U.S.A
 
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ZS

Had to Short on Divergence set up....took some heat as ZS tried to Test Higher....held on and banked some Profit.

JUMPED OUT WAY TOO SOON AS USUAL.....

Last 2 Charts shows Details Evidence to take Short at Resistance....Several Signs

-Divergence on Daily at Resistance
-Divergence on 15 BR
-Divergence on 12 BR

Large Volume bar formed on this Day...see Daily Chart.
October USDA Report told of Large Crop in Soybeans.
USDA estimated the U.S. soybean crop at a record 3.958 billion bushels, up less than 1 percent from October and a hair below trade forecasts averaging 3.967 billion. The crop is inching closer to the once unthought-of 4 billion-bushel mark.
http://finance.yahoo.com/news/usda-trims-bin-busting-u-173741727.html;_ylt=AwrBTzs5xGNUubYAc6ZXNyoA

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COMMON SENSE-zs-01-01-15-wed.jpg   COMMON SENSE-zs-01-15-15-betterrenko-11_12_2014wed.jpg   COMMON SENSE-zs-01-15-daily-6_11_2014-11_12_2014.jpg   COMMON SENSE-zs-01-15-15-betterrenko-11_12_2014wed2.jpg  

Last edited by sandptrader; November 12th, 2014 at 04:37 PM.
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  #1082 (permalink)
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Surly says he is bullish- long. 78.20 yesterday high needs to get taken out and then an exhausation bar to the upside will be A+ short set up. Otherwise box trading during lunch hour.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #1083 (permalink)
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mfbreakout View Post
Surly says he is bullish- long. 78.20 yesterday high needs to get taken out and then an exhausation bar to the upside will be A+ short set up. Otherwise box trading during lunch hour.

CL does certian things between 12 and 1 pm on most days. Today is no exception. I traded CL for 4 years straight out- it has some benefits in terms of scalp and knowing what happens on Tuesday VS Wednesday etc. In summary there is nothing going on or has changed as far as CL macro bearish trend is concerned. Never ever take a new position on a 45 minutes OR breakout or any other breakouts in a mcro bearish trend. Always on pullbacks. There is no such thing bullish or bearish within ATR. Macro CL is bearish and daily games being played as usual to hose traders who trade candles , CCI overlay with who knows what etc.

Algos are not taking money from macro traders. They are taking money from me and you. I always try to remeber that. I have lost more money trying to trade breakout than any other set ups. My screen name is a reminder to myself of all the pains i endured during first 2 -3 years and to avoid it at all cost when macro trend is bearish.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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Last edited by mfbreakout; November 12th, 2014 at 01:00 PM.
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  #1084 (permalink)
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Whi i am not touching CC from the long side?



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #1085 (permalink)
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mfbreakout View Post
Surly says he is bullish- long. 78.20 yesterday high needs to get taken out and then an exhausation bar to the upside will be A+ short set up. Otherwise box trading during lunch hour.

Thanks for this - I'm starting to see how CL works like this: lunch hour, games (flush above HOY), etc. The mistake I made today was getting scared off of longs by the flush down into 77.25 at 10 am cst. I'm not experienced enough to realize this is just traders (algos, scalpers, whatever) playing games to get the small guys like me thinking short so they can but a bunch and drive it back up to flush out the stops above the next reference above (HOY in this case).

I'm starting to see this sort of thing but not quick enough yet to be crushing it. I'll keep working and keep watching...

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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  #1086 (permalink)
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mfbreakout View Post
Never ever take a new position on a 45 minutes OR breakout or any other breakouts in a mcro bearish trend. Always on pullbacks.

I like this rule. I'm writing this down...

Here's some music while I wait.

https://www.youtube.com/watch?v=lA2el5NSlfc

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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  #1087 (permalink)
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Surly View Post
I like this rule. I'm writing this down...

Here's some music while I wait.

https://www.youtube.com/watch?v=lA2el5NSlfc

In future you can use following command to post video directly vs link

[yt] paste link here from you tube [/yt]




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #1088 (permalink)
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I have been watching this for a week now and making notes as not to make same mistake again. I have been busy with other instruements otherwise i would have shorted the damn thing.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #1089 (permalink)
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mfbreakout View Post
ZS up and up. I am going flat and will wait for a pullback to try long again.

Trying long 1048 area.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #1090 (permalink)
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Mysterious ways of CL. CL is at critical junction to decide whether next leg down is in order. At the same time there are lot of other interest groups/ traders who seems to want to control CL from next leg down. CL keeps on bouncing from 76.40 area.

In the absence of any visible sell volume i been assuming lows are in till DOE report on Thursday. I covered my short from 77.94 area around 77.50. As CL was buzzing around ORL area- i kept buying with an average price of 77.30. I was looking for test of 78 into the close. CL goes to 77.50 and then reverses to 76.60. I hit market order and out got around 77.84. This reversal took away almost all of days gains as i was pretty loaded.

I am short now from 76.90 area. Took some off 76.70 to recover some gains and holding rest to see if 76.40 gets broken. It will either gets broken or CL is going back up. There are no rewards without risk except in fantasy land.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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