CL Redux
- Thread starter schizo
- Start date
CL Inventory strategies:
1)
Bearish report = test of highs
Bullish report = test of lows
2)
Whatever price does within the 30 mins of the report will totally retrace at some point in the day
These strategies are based on careful scientifically valid "it seems to do that a lot" analysis
Looking at a 4 hour I fear this is forming an ihs. So Maybe a couple of weeks between 98 and 95 and then off to the races. I don't have a good feel for the fundamentals at this point because I haven't been paying attention. From what I hear we are swimming in oil. If BlueStreak is around I would love an update as to what is going on in the real world.
I was expecting a ton or resistance at 95 because that was the bottom of that rectangle from a month ago or so. Lucky for me I was proved wrong quickly. I would like to strangle this 98-93 area but with vol so low it doesn't seem worth it. I guess I'll have to try to do it the old fashioned way.
I was expecting a ton or resistance at 95 because that was the bottom of that rectangle from a month ago or so. Lucky for me I was proved wrong quickly. I would like to strangle this 98-93 area but with vol so low it doesn't seem worth it. I guess I'll have to try to do it the old fashioned way.
When you posted this price had spent almost 4 hours of the 5.5 hour pit session above a 20EMA on the 5-min (most common day trading) chart, 4 hours above the 60-min 20EMA, and a 4th day in a row above the daily 20EMA.
This indicates a long day in every short term trading time frame.
I'm confused why you're thinking "short day".
