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Simple Trendline Bounce


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Simple Trendline Bounce

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  #31 (permalink)
 babypowder 
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Can someone explain or confirm chart data attached of CL. 2011-04-20_1608 - babypowder's library
After the 1st target I moved stop a little above BE and it was not triggered when my charts shows price hit well below my stop but I'm still active 1 order????
Is this a data glitch or a sim thing?

Your boy BP,
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  #32 (permalink)
 babypowder 
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6E- 240 min chart, I wanted to show volume confirming big support. Also, there's a gap not filled at what is now support. I am not comfortable taking longs till the gap is filled. 2011-04-24_2023 - babypowder's library

6E- 1440 min chart, shows we're in mid channel, I am looking for a HL/pullback to enter long from here will see. 2011-04-24_2032 - babypowder's library

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  #33 (permalink)
 babypowder 
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6E- 240 min chart shows the gap filled which I wanted to see before going long. You will also see a big rejection candle right on support area. 2011-04-25_2212 - babypowder's library

6E- 60 min chart, I zoomed here to fine tune an entry and you can see a IB right were I want it going long @ 4520. See attached. 2011-04-25_2220 - babypowder's library

.....................................................................................................................................................................................

CL update- 240 min adjusted my stop under previous HL. 2011-04-25_2222 - babypowder's library

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  #34 (permalink)
 babypowder 
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60 min- IB play 1st target filled total 962.50. 2nd target at last high stop adjusted to minor support as shown. 2011-04-26_0508 - babypowder's library

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  #35 (permalink)
 babypowder 
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Wow, it just popped up right to my 2nd target great short term play total 2,350. https://screencast.com/t/A0ej8pJAv

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  #36 (permalink)
 babypowder 
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CL- 1440 min chart shows that we are in the bottom of the channel, also its stalling at previous high while still making a new high. 2011-05-02_1848 - babypowder's library
CL- 240 min chart shows we are consolidating, also last candles is a IB working its way down probably towards the shaded area I highlighted (further explained below). 2011-05-02_1852 - babypowder's library
CL- 30 min chart shows a range market notice how volume reacts to the price levels. 2011-05-02_1903 - babypowder's library

Short term play is to wait for price to hit a 30 min range level and fade.

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  #37 (permalink)
 babypowder 
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CL-1440 min chart, shows TL breakout with last bar being a bullish pin bar which tells me this will start to pullback. The question is where will it pullback to? Attached you will see the top shaded area (106-108) which was the last significant level and also happens to be 61.8 retracement area. When we get there we will zoom in to fine tune an entry. 2011-05-07_1809 - babypowder's library

6E-1440 min chart, shows potential TL break but its running into previous HH, 2 scenarios i will want for a breakdown pass the last HH level or a realignment back to the TL channel. (NOTE: BIG EURO NEWS GREECE IN TALKS TO EXIT THE EUROZONE!) Maybe reason for TL break? We will see.
2011-05-07_1821 - babypowder's library

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 babypowder 
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CL- 30 min chart, fine tune entry at IB with STOP @ last HL after major bar reversal, counter trend play so I will be aggressive with profit taking. 2nd target @ 50% retracement of the major trend or the TL touch. We will see.
https://screencast.com/t/lqDVldlnTI

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 babypowder 
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CL- Will exit 1st contract when the top of the channel is hit. 2011-05-11_2044 - babypowder's library

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Should this be moved to Journals?

Mike

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Last Updated on May 25, 2011


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