Knowing Oils Moves....
You can see from the chart I posted previous to this that oil has followed my path. Not to the exact point but pretty dam close. If you are looking for trades with the most reward to the least risk then you hopefully are using my levels as a key to enter and exit positions.
Todays three dollar move was captured by me by knowing where failure was most likely to occur. You can see it clearly on the charts below. There is no guess work as I identified these levels well ahead of time. You knew from previous trades which mostly worked very well how powerful the 47.12 to 21 area was. You knew this so hopefully you used it as your main volume and pivot area. There is no need to find to the tick entries. If you try you generally won't capture a move like this. It simply isn't possible.
You can see how much more powerful these areas are than your typical support, resistance or even minor volume areas are. They move the markets.
Now you can see that the 44.97 area was hit which is a major support area. Personally I don't think it will hold but I did take some profits. It may move as far as the 44.15 area but a strong bounce should occur here.
Anyway hope you were with me.
Cheers!
Todays three dollar move was captured by me by knowing where failure was most likely to occur. You can see it clearly on the charts below. There is no guess work as I identified these levels well ahead of time. You knew from previous trades which mostly worked very well how powerful the 47.12 to 21 area was. You knew this so hopefully you used it as your main volume and pivot area. There is no need to find to the tick entries. If you try you generally won't capture a move like this. It simply isn't possible.
You can see how much more powerful these areas are than your typical support, resistance or even minor volume areas are. They move the markets.
Now you can see that the 44.97 area was hit which is a major support area. Personally I don't think it will hold but I did take some profits. It may move as far as the 44.15 area but a strong bounce should occur here.
Anyway hope you were with me.
Cheers!
No comments:
Post a Comment