CL Redux
- Thread starter schizo
- Start date
short 4.34, stop at .50
thin volume from 113.60 to 114.0 , so will be jump on the down side .. ( see Mr. P attachment )
But it will take time not so fast ....
Reuters news before this Spike when CL was 112.40 an hour ago ...
http://www.reuters.com/article/2011/05/02/markets-energy-nymex-idUSN0231064220110502
But it will take time not so fast ....
Reuters news before this Spike when CL was 112.40 an hour ago ...
http://www.reuters.com/article/2011/05/02/markets-energy-nymex-idUSN0231064220110502
Will do. My bread and butter setup is basically watching volume trendlines. When one breaks I throw up a few price TL's and just trade the break.
Another thing to notice is how few candles it took for the CL to drop at the open there. Moves with participation will typically be "thicker" because there are more transactions involved. Look at that first push down compared to the up moves before it. To me, it looks a lot different and can give you clues on where the CL might want to go. Volume is step 1 for me every time though.
Mr. P your magic Volume chart please ..
ADD: I am using IB web trader ( not TWS ) as my access to this trading activity is small chunks of times here and there certain days ...
ADD: I am using IB web trader ( not TWS ) as my access to this trading activity is small chunks of times here and there certain days ...
