CL Redux

Quote from EON Kid:

with tomorrow being a holiday and after the prior extended up move, this could be a consolidation day.

is Monday a holiday in US? Holiday here in UK.
 
Quote from DonCorleone:

thanks for the enlightenment. i thought it was forming a bearish flag until it broke above .60. how do you determine if it's one not the other?

Price action within the flag, price action in relation to yesterdays key levels, price action from Globex & RTH, volume, etc many simple things that when tied together will give you a clear picture.

1st you need to collect many flags, ones that worked and ones that didn't. You need to look inside the flag and strip it down to the finest detail as well as accounting for the macro forces
 
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