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Wow, this board went back to adding nothing of value again
I would love that!
I have no idea though. All I know is that this chart is refusing to break down below obvious levels, so somebody for sure is anticipating something.
Again, I don’t know though.
1.)Anything can happen
2.) I don’t know what it’s going to happen next
3. There is a random distribution of wins and losses for any given trade
4.) every moment in the market is truly unique
Mark Douglas
No opinion or judgement.
That’s the status of things. You decide
#Oil tops $112 today. After last night's SOTU it is clear nothing will change soon. $CGRA continuing to work on necessary competent persons report. Our shallow drills are extremely attractive to investors! pic.twitter.com/twY1gijntV
— CGRA (@CGRAOTC) March 2, 2022
I’ll for sure agree with that. Objectively, the follow through could no doubt be better. As could the investor update.
That being said, the chart continues to say “hold”. It can be frustrating, but we have to follow the chart here. It will give a clear signal when to move on and cut the trade. So far it has not done so.
But I will for sure validate your frustration.
Hang in there. Lots of irons in the fire. If one or more of them closes, you’ll be glad you maintained patience. You’ll be preaching Livermore to anyone who will listen.
There’s a reason I preach him ;)
The point is just that we don’t know the timing.
And that will wear on our mental environment if we let it.
As traders and investors, it is our responsibility to not allow that to seep in. Almost no traders have this mental strength. This is why almost no traders are consistent winners.
The timing is not up to us. We can’t control it. We can only control ourselves and what we do.
As Livermore famously said
There is a time for all things, but I don’t know it. And that is precisely what beats so many men in Wall Street who are very far from being the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily, or sufficient knowledge to make his play an intelligent play.
Livermore it was a trader but he knew the value of staying with positions and sometimes not trading at all.
You’re not wrong.
When the report is ready for releasing, it will be released. The stars have aligned for oil greater than I could have imagined.
I’m sure if there was a reason to release news at the moment, he would. When the time is right…
Chart wise, technical wise, this name has to move fairly aggressively in one way or another pretty soon.
I have no idea when and I have no idea the direction.
But I do know that it has coiled energy and must release it. That is how this game works. The nature of the stock market.
Technically speaking, we are good as long as above 009
*does this company have oil?
This name looks super ugly. But it’s not really. Just making its higher highs and higher lows on the larger time frame
Does this company have a while? I have no idea. But I will make my trading decision based off the chart.
If we start making lower lows and staying below them, I will exit
Until then, no reason to commit a trading
Error by selling
All my opinion
Down $0.00065 today. Just wanted to let you know.
My broker won’t let me be that precise with entries and exits though. Darn
Less than 200 dollars brought this name down today.
Think about that. Don’t judge it. Just recognize it.
Today’s daily candle on CGRA was a highwave candle. If a doji equates to indecision, a highwave candle means straight confusion
And it was on volume higher than the previous few days
Stepping out on a limb and I predict 016 in the next two trading days.
Not bad if you entered the 011 off the trade plan
All my opinion. I could be wrong. Trade your own chart!
Late day push off the lows on volume
If daily price movement plays with your emotions, you either
1.) don’t fully understand the psychology of trading
Or
2.) have on too large of a position size
Nobody ever knows what is going to happen in a stock
But if you have a plan and you execute that plan with mathematical precision, you really don’t care what happens because you know what you will do in any given event
You also don’t care if the trade is a winner or loser because you have set up your trade plan to skew the risk to reward math in your favor
You also understand how the law of averages works.
I hope my messages add some value to you. I try not to repeat myself by saying the same thing over again.
Adding value to others is something I’m getting good at
*Addendum
The below defined a trade plan is a longer-term position trade, not a day trade
As discussed yesterday, this name is difficult to day trade due to the low volume and poor liquidity
Just a handful of shares can make it move 20% in either direction
Entry
If 0.011 is our entry, the our STOP is a new low in the series.
STOP
The Current low is an algorithmic print of 0.00905 haha
Target
New high in the series. 0.0316 is the current high
Risk management
Up to 10% of your account in this trade
Just an example trade set up. I could be wrong. Trade your own chart
Man I’m reading this well
Need to start a position?
Get them off of 0.011
Tap a support level on low volume and then run right back up, printing a hammer?
2 days in a row?
That’s mass psychology of this market speaking to you…
Day is not over yet, but 2 powerful candles forming on the daily frame.
They tell you the emotional sentiment exactly
Just a waiting game at this point. No shares are being exchanged.
Chart looks excellent on the larger time frames.
Catalysts are in place should they be rolled out.
You know your levels. Make a bet. It either works or it doesn’t.
If you haven’t noticed, this name is extremely illiquid and so daytrading and scalping off of lower timeframes is low probability and you will experience quite a bit of slippage
Given that understanding, the way to play here is a longer-term hold. Think position trade vs day trade. So plan your trade off of the larger time frame. Lower time frames are simply noise on this name.
Anything can be done, and so if you are one of the few that is making a ton of money off of daytrading this name, awesome work! You deserve the profits!
I just wanted to note that daytrades here are the lower percentage play due to the poor liquidity and low daily volume which leads to price swings
All My opinion. I could be wrong…
Man, this chart looks so good. Like I always say, this is a long-term hold so zoom out to the larger timeframe
When you look at the weekly timeframe, you will see a healthy series of higher lows and higher highs and you will see price action being supported literally exactly where it needs to be
That weekly is shaping up textbook
Aka 3500 dollars?
That’s fair
Why would someone post bid and ask orders on a message board?
Posting your orders on an internet message board? Am I reading this correctly.
If we do that would be a new high of week
Let’s see if we print a new HOD
There is an obvious catalyst. In fact, there are several.
What we don’t know is if there will be something released or what the outcome of the catalyst will be. There may be, there may not be.
I have no idea
I can lay out all of the information that is right in front of our faces. But I have no idea what will happen.
Anybody who does suggest that they know what is going to happen, is merely playing games. Nobody knows.
You can look at the past and deduce that XYZ happened in the past therefore XYZ is going to happen again.
But by saying something like that is demonstrating that you don’t understand that every moment in the market is different and unique.
I like this name higher. I think it is set up to move higher from a technical analysis standpoint on a large timeframe as well as from a fundamental standpoint.
That being said, it could certainly be a loser. I have no idea what the outcome will actually be.
However, this name has given us a good place to take it bet. It either works or it doesn’t.