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COMMON SENSE
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COMMON SENSE

  #1091 (permalink)
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How much out of potential gains is one willing to put on line to test set ups is always the question.



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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  #1092 (permalink)
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CC

Back to Test Support at 2849

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  #1093 (permalink)
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sandptrader View Post
Back to Test Support at 2849

Rather than support i would call this area where shorts booked profits or were exhausated. For support on which we can count on with confidence to try long will be an area from which a significant turnaround came to change direction of the trend.

It's sure is a good area to cover shorts as daily and weekly ATR had been hit for CC. I am holding some cars to see if next leg down is in order.



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.

Last edited by mfbreakout; November 12th, 2014 at 05:06 PM.
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  #1094 (permalink)
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CL

Crude oil futures decline as OPEC supply outlook weighs.
Crude oil futures decline as OPEC supply outlook weighs By Investing.com

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COMMON SENSE-cl-12-14-12-betterrenko-11_12_2014.jpg   COMMON SENSE-cl-12-14-weekly-week-10_2012-week-46_2014.jpg  
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  #1095 (permalink)
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Do not mess with OR. ZS pulled back more than i expected.



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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  #1096 (permalink)
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sandptrader View Post
Crude oil futures decline as OPEC supply outlook weighs.
Crude oil futures decline as OPEC supply outlook weighs By Investing.com


Out of this news, i was focused on following this morning

" According to the agency, the decline was led by Saudi Arabia, which cut production by approximately 69,000 barrels per day to 9.6 million."

A production cut by Saudi Arabia- was the reason for my longs this morning. But when CL reversed and did not reacted to this news , i realized maybe something else is underway and therefore shorted 76.90 area. I hope i don't get fooled twice today. Constant flexibility and adjustment is needed to survive. Otherwise traders wonder what happened to bullish/bearish candles they were so closely watching all day long.



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.

Last edited by mfbreakout; November 12th, 2014 at 05:28 PM.
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  #1097 (permalink)
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CC


mfbreakout View Post
Rather than support i would call this area where shorts booked profits or were exhausated. For support on which we can count on with confidence to try long will be an area from which a significant turnaround came to change direction of the trend.

It's sure is a good area to cover shorts as daily and weekly ATR had been hit for CC. I am holding some cars to see if next leg down is in order.

I am looking for this level to Break...waiting to see.
Just a Land Mark to look for trades around the Price level.....Strong Down Trend....i only started watching some other
Futures Markets since i seen you were also following them......i have not traded in these in years....

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  #1098 (permalink)
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4.30 pm today API news came. I do not know what the report findings are but based upon price action my short set up is not looking good. I was thinking that the way CL reacted today into the close is an early tell sign to API report.

Still holding shorts but cut down the size. All this drama for nothing. Key point is that one has to take all the set ups. One can not cherry pick.



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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  #1099 (permalink)
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CL


mfbreakout View Post
4.30 pm today API news came. I do not know what the report findings are but based upon price action my short set up is not looking good. I was thinking that the way CL reacted today into the close is an early tell sign to API report.

Still holding shorts but cut down the size. All this drama for nothing. Key point is that one has to take all the set ups. One can not cherry pick.

Is this the Report....i think this is not.
According to the IEA report, the use of coal and oil will steadily plateau, while natural gas use and consumption of low-carbon fuels like nuclear power and wind and solar will grow the strongest.
IEA: Global Energy Demand Could Outpace Supply By International Business Times

News and Reports are too much to keep up with while Trading.....

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  #1100 (permalink)
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thank you



mfbreakout View Post
I can not believe that i traded Crude for 4 years day in and day out and never looked atGC, NG, ZS, KC, CC etc. Looking back i think the main reason was that these beauties require wider stop loss than i felt comfortable with. What a dumb ass reason/logic.

i can not believe it that before your advice i was strugling if use 10tick or 16tick stop to get ...?
now all in points
in this test i have to reach 450points in 10 days
today i got the half
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thanks T

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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