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15-03-17
Instruments: CL
Time frame: 3 min
Indicators: EMA 20
Strategy: Simple R/S and price action analisys
Crude oil (CL)
Trade 1
Bought the BO of today's open but i didn't figured the HOD right above which has been tested and held greatly. My bad in this trade, sometime i just focus too much on a price level and just ignore the bigger picture.
Trade 2 Reversed the trade and managed to BE with previous loss.
Trade 3
Rided the wave. Since bar 336 was a realy huge bear bar i had to wait for a good confirmation before to enter. Bar 338 high was the good one, tight stop loss below 48.30, huge profit above. I went long 1 tick above 338 bar and well, got into bar 340 rally up to HOD. 2 contracts 20 ticks and 1 with trailing stop closed 10 ticks above as a measured move toward HOD.
Done for today one of the best thing when it comes to trading... step in, get your profit, run away... CIAO!
Today describes very well how useless are news very often. I personally don't rely so much on news as the price tend to do some noise and rapidly close gaps created during them.
Due to the high volatility that suddenly releases, news are very good for scalping some points allthought its something that better leave to experienced scalpers. But some backtesting i did showed me that 90% of the time a news comes out there is some noise and thats all.
Thank you Ddawg, sometimes you think you are "on fuego" and want to keep it going but usually i end up losing some rather than adding, so i have learned that when i reach my goal (or my number of trades) i am off no matter the results.
16-03-17
Instruments: CL - GC
Time frame: 5 min
Indicators: EMA 20
Strategy: Simple R/S and price action analisys
Crude oil (CL)
Today i would have BET that the price would break 50 level and reach somethere to 50.30 at least (fortunately i didn't), and instead its forming what seems to be a continuation pattern or an attempt to retest the trendline on the daily chart, probably tomorrow we will have a break.
Trade 1 +72 ticks
Gone short below bear trendbar 178, bear channel, desperate bulls trying to scale but failed, bar 181: give up bar for most bulls, buyers below. Entered with confidence that the price would hit my profit, 20 ticks profit with 2 contracts and 1 runner with autotrail 15 ticks behind (after 21 ticks profit) and 40 ticks profit, filled too.
Trade 2 +30 ticks
Kind of impulsive trade here, shorted the low of bar 181 thinking the bottom wasn't reached yet, no signs of supports here, 48.60 was the first valid support so i took 10 ticks profit.
Trade 3 +58
Shorted the failed attempt to rally to OTD and previous LOD at signal bar 202. 5 bulls bars behind, but strong liquidity at 48.85. Same ATM of trade 1 but this time bar 212 took me off.
Gold (GC)
Trade 1 +30 ticks
Was looking for a bull bar that would close the gap with bar 194: bear bar but long tail below and confirmation of next bar 195 but weak bull bar so i gone long 1 tick above bar 197 for 10 ticks since gold doed nothing but killing my profit lately and didn't wanted to take more exposition to the market.
Trade 2 +30 ticks
Good looking setup and sign bar 216, more or less same trade as trade 1 i waited for a second confirmation bull bar to go long for 10 ticks.
Monster day today: 220 ticks profit but the best thing is that I am learning to totally change my bias if it is the case. On crude I focused on a trading range instead of waiting for a huge breakout, in the past i would have made several attempts to short or long a breakout that never occurred today for example.
