[enochbenjamin]

Originally Posted by Dinerotrader »

The phenomenon of prices to follow a trendline is sometimes amazing.

Just curious - how does this trendline help you?

[Dinerotrader]

Originally Posted by enochbenjamin »

Just curious - how does this trendline help you?

Depends how you trade I guess. Oil often will make moves exactly in line with a trendline. This post was mostly just an interesting observation. You'll see a few posts before that oil traded in an obvious channel for a long period and provided many a good trade.

[enochbenjamin]

I normally don't trade CL from 10:30 - 12:00 CST (11:30 - 1 EST) because the market usually just chops around during this time. However this week there have been MASSIVE price drops during this time - does anybody other than me think this a bit odd???

[brownsfan019]

Originally Posted by enochbenjamin »

I normally don't trade CL from 10:30 - 12:00 CST (11:30 - 1 EST) because the market usually just chops around during this time. However this week there have been MASSIVE price drops during this time - does anybody other than me think this a bit odd???

I guess it's all in how you view things, but I trade oil straight through till 230pm EST. For my trading, I don't see a 'lunch' often in oil.

[enochbenjamin]

Originally Posted by brownsfan019 »

I guess it's all in how you view things, but I trade oil straight through till 230pm EST. For my trading, I don't see a 'lunch' often in oil.

Maybe I have rationalized this lunch chope zone thing since looking at my stats my bigest and almost all of my losing trades happen between 10:30 - 12:00 CST.

If you and others are making money during those times I must assume that its a mental issue with me.

[brownsfan019]

Here's an example of how trailing a stop can look on the CL:



I had mentioned in the p/l thread that if you decide to trail stops on the CL, you better give them some room to work and here's why.

It would be easy in hindsight to see a winning long that got you 40+ ticks but in reality, had you trailed just about anywhere, you would have made little or even LOST on this trade. Looks can be deceiving, esp after the fact in trading. Don't let your eyes fool you.

[bathrobe]

To show a different perspective, the last three days of oil shown on the last MP graphic on the right is distributed rather evenly despite closing near the lows. I have yet to prepare for Monday morning but my initial glance at this shows a possibility for a a move up and pa willing a good short. I usually enter the day with 2 fundamental trades I am looking for, again I have not done my homework yet but I may be watching for it. I will see if I can post something

Right as I posted I realized I posted a MP chart in the Candlestick Corner, is that ok? Otherwise it could be moved to the pl thread.

[Dinerotrader]

What a day for oil. I'll remember this day for a long time. This chart emphasizes the reason S/R is the foundation for my trading. Large moves based on predetermined S/R levels.