Using 5 min. candle charts today:
long /cl 86.48 on doji 5 min candle near previous support 15 tick stop. High vol. on the doji.
But premarket weak.
looks like EWG - -8% ???
NBR - upgraded -- may be nice intraday.
/cl - ribbons fanned to downside on 5 min chart. Should I wait for more confirmation?
/cl breaks to new lows -- through the support area from a few days ago. Obvious. No reason to take a countertrade right near a clear stophunt area. Need more confirmation to enter.766
/cl dropping to 86.17 support area from 5 days ago.
stopped again /cl -- trying to enter way too early. No base to support a move. Like trying to life a weight while jumping in the air. Won't work until you land, plant your feet, take a deep breath... the setup IS the trade. The PRE-PATTERN gives the market the power to lift.
aapl -1.3% premarket.
/cl dropping further -- almost 100 ticks. No base
dragonfly doji /cl 85.40 -- major support -- first green doji -- and 30 tick bounce.
trend down Market Signals -- be very patient -- may not bounce at all today. Trend Down?
/tf bounces 90 ticks on bad news/ then good news -- wow -- that was crazy. bounce took it too a clear TL formation on 5 min candle where it was correct to short.
Like the FIB LINES drawn in -- provides extra targets.
extreme chop -- 796 to 808+ KNOW YOUR environment.
Need to adjust EACH DAY based on volatility -- today is very volatile. Hairpin moves with size. So learn to speak the language of the market.
IWM -- double top on 5 min chart. 2nd top stop hunt. May as well short here. Either it's a top or or loss for $150.
well -- 140 tick range /tf -- very unusual. Trend following with 1 min. charts would have picked up some of it.
Market Signals are mostly mixed.... really hard to know -- mostly short term traders involved.
/tf just crawling... over 810 now from 796 low! 99 MA showing the way. Signals strong.
pullback has begun after 2pm beige book -- nice DT pre-pattern at 810
short /tf -- 5 min 3-touch pattern 8 tick stop --- at 3:04
/tf - breaks wedge --- trending up. Have to stay with the flow to upside.
close at the highs ... was not with the flow psychologically. Massive reversal day. Have to accept anything -- follow charts.