CL Redux

Quote from NoDoji:

Wondering that myself. Looks like I awoke about half hour too late; it left a perfect counter-trend short signal off the 7:30 ET bar.
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Can you explain what the counter-trend short signal consists?

Thanks.
 
Quote from mrbochin23:

Can you explain what the counter-trend short signal consists?

Thanks.
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Sure, 5-min chart: price bounced hard off the the 3:50am pivot low and had been channeling, then broke out to retest the pivot high of 77.45. The break out of the range was weak and the final bar breakout bar through the high was a failed breakout (7:30am). Failed, in that it broke 5 ticks and sold off. Failed breakouts are good counter-trend signals.

Also, there was a downside failed breakout on the 8:35 bar.
 
Quote from NoDoji:

Sure, 5-min chart: price bounced hard off the the 3:50am pivot low and had been channeling, then broke out to retest the pivot high of 77.45. The break out of the range was weak and the final bar breakout bar through the high was a failed breakout (7:30am). Failed, in that it broke 5 ticks and sold off. Failed breakouts are good counter-trend signals.

Also, there was a downside failed breakout on the 8:35 bar.
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Thanks a lot.
 
Quote from EON Kid:

Any news on the 100t drop

time check 8:04
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I've noticed that over the last few days every time that gold starts tanking out of the blue (while ES and EUR hold just fine), oil tends to follow suit.

Maybe this is related to commodities' ETFs?
 
Quote from Picaso:

I've noticed that over the last few days every time that gold starts tanking out of the blue (while ES and EUR hold just fine), oil tends to follow suit.

Maybe this is related to commodities' ETFs?
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Good to know, another thing to know is, yesterday ES didn't hold and we have a very bearish report on Oil,,...........and hold above 76.50, and close at 76.84.

Today Euro is attempting to break a big Resistance point to the 1.31, (which probably will affect the dollar), and the ES is in positive.

I'm going to be looking at a spike in Oil today.
 
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