The Crude Index scalper
- Thread starter Zodiac4u
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31 hit, but still good not taken out.
Fridays early signal failure warnings near the 42-44 resistance area,
Starting with jpeg1, just a clean screen with volume and a 20mnt-ma. A typical quick look supports that we are in a channel. But when you look closer at the bars near price resistance and compare the volume reaction, suddenly the picture takes on a different view.
Here in Jpeg 2, I've marked with a fuchsia color near the Bar price signal warning with volume supporting a directional shift.
With Jpeg3 its giving you a pre-warning bar marked by the color yellow. This pre-warning bar supports the fuchsia marked bar. Pre-warnings are just one of those, "whats up with that signal"? To clarify what the possible signals are, they could be spikes with weak closes supported by high volume, or a weak unsure price bar followed by low volume, and the list goes on and on.
And finally Jpeg4 provides further support for lower prices. All temporary but since this is a scalper journal-positions are very temporary
Starting with jpeg1, just a clean screen with volume and a 20mnt-ma. A typical quick look supports that we are in a channel. But when you look closer at the bars near price resistance and compare the volume reaction, suddenly the picture takes on a different view.
Here in Jpeg 2, I've marked with a fuchsia color near the Bar price signal warning with volume supporting a directional shift.
With Jpeg3 its giving you a pre-warning bar marked by the color yellow. This pre-warning bar supports the fuchsia marked bar. Pre-warnings are just one of those, "whats up with that signal"? To clarify what the possible signals are, they could be spikes with weak closes supported by high volume, or a weak unsure price bar followed by low volume, and the list goes on and on.
And finally Jpeg4 provides further support for lower prices. All temporary but since this is a scalper journal-positions are very temporary
Checking back-in, I see that we went as low as 04. This was almost at the next area of support at 03/02. sorry about not posting earlier before the move occurred.
On the high note our bounce peaked just shy of last weeks resistance in the 31-33 area. Further on the topside there is a fib at 2748 area. But, with the holiday this week, the ES is a little on the thin side, so be aware and take care.
On the high note our bounce peaked just shy of last weeks resistance in the 31-33 area. Further on the topside there is a fib at 2748 area. But, with the holiday this week, the ES is a little on the thin side, so be aware and take care.
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