Trading with EOT & Shelly's Volume...

I tried explaining how I use EOTID, EOTTA, and Gvalu in class and today I had two nice trades that I was able to take and I also took screen shots as the two trades played out.

The ES was extremely choppy so I was looking at Oil (CL04). CL was also bouncing around and continued to hit Alla's Average and bounce back - then I noticed GValu Plotting ending the topping action with EOTID changing cycles and moving with the downside so I decided to wait for the next short signal.

Shelly's volume dropped drastically and an arrow signaled short so It. I believe Bill took this short as well, however he bailed while I held out. My stop was 5 ticks above the previous plot cycle (as I have always used plot cycles as my personal stop - but wasn't sure how OIL traded I wanted to give myself room) my entry was 80.25 with 1 contract and within a couple of ticks down - price moved against me. I want to point out how though price was popping up and actually went against me near .25 to 80.48 Shelly's Volume was NOT confirming this whipsaw... so I stayed in the short. A new plot cycle appeared where I lowered my stop and volume continued to weaken. Price started back in my direction. EOTID is now up - however price still is pretty much where I entered so I held out to see if EOTTA was going to follow through and help push price down some more.

EOTTA did run up and EOTID hooked down - usually I exit when EOTID and TA Tag but in this case ID crossed through TA and with Shelly's volume showing extreme weakness now and price only in my favor .05 I decided to wait for a trend hijack and opportunity to lower my stop.

EOTID hooked up, another short signal triggered, shelly's volume tanked lower and I exited at 79.98 just as price broke through Target 1 and Gvalu started plotting.

A very nice trade indeed.

Comments

[Shelly]

13:27 EST on OIL - I took the second arrow... and yes price did go against me some pretty much immediately but the tools were telling me there was downward pressure... so I stayed in.

[Carolyn]

Hello,

Nice Trade, yes like the prior pivot as stop (sometimes), trying to re-construct and could not duplicate. Perhaps actual time of trade?

Regards,