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If stopped out I would look for HH and then potential long entry again. I just moved stop to -2 as price went +9 and is paused.
If this bar closes up it is a perfect long setup but it closed down. Alright I'm +11. Stop moved to +3. Risk free.
Price came w/i 1 tick of stop. Now +11 again but which way will it go.
Just stopped out. Congestion. Bias still down But I don't like it when trades take this long to follow through. That is why I moved my stop to +3. I may have been ok if I kept it in the -2 area. Only time will tell if I made the right choice or not.
If stopped out looking for a new high above 51 then pullback to reenter Long
This is what I am looking to happen. It may NOT. You could have taken early entry but it is very risky. Stop would be -5.
I don't know how to draw so this what you got.
Crude (CL)
If had taken the high risk trade (but I wouldn't have because of time of day and no price break even above 45.51) then you would have been stopped out
These last few posts were to given to you all with the idea of seeing some of my thoughts as I am trading these waves. It is a great strategy for following short term trends but as you saw you can use it on any time frame.
I received half of my new indicator this weekend so I am excited to try it out. Being Sunday, I decided to do the trades in simulation mode vs. the Combine. Boy do I wish I could go back and change that decision. Oh well, the first trade had two targets +16 and +32 and both were reached. The second trade had all contracts at one target +16. Both were successful! Here is the picture:
Crude (CL)
For Some Reason I Cannot Get the Picture to Upload
I will try & Post it Later Sometime
Problem is on my end with my internet connection. It keeps going in and out. Technician coming tomorrow to check out the problem but for now it appears to be working again. Here is the picture:
