CL Updated
Good morning, going into this USA Session, nearly 5am PAC TIME (we are in AZ), we can observe:
OUR SESSION OR WEEKLY LONG >>>>NOW, you do NOT need ThinkorSwim to open these charts...click on the link here in BLUE and it will take time, but they will open. TOS loads these charts from THEIR DATABASE.
Now, this long essentially has a range from 50.71 drawn up to 54.08...it has reversed! at 52.40, which is essentially a bid from 52.50 as OIL trades ROUNDED LEVELS and the ALGO's front run these key levels in "measured moves" which we refer to as RANGE PLAYS here in our Forum.
Each reversal area is IN YELLOW and those levels are 50% marks of the ranges MEASURED. Hence, they are called MEASURED MOVES ("MM" or "MMs" here in this forum).
The author here made some key discoveries:
1. PRICE DOES NOT REVERSE PRECISELY. They always FRONT RUN but more often, they allow price to SLIP PAST REVERSALS as we see here, with a dip into 52.22...very close to:
2. A CENTURY LEVEL or a TRADER's rounded level.
The S&P500 Futures runs into KEY ROUNDED LEVELS or centuries, and one might be our 2300 level, and certainly every $50 mark along the journey in price action or in RANGES.
$52.25: we can say that the BIDDERS have BOUNCED $52.25.
NEXT POST, the shorts opposing our long.
Dave
OUR SESSION OR WEEKLY LONG >>>>NOW, you do NOT need ThinkorSwim to open these charts...click on the link here in BLUE and it will take time, but they will open. TOS loads these charts from THEIR DATABASE.
Now, this long essentially has a range from 50.71 drawn up to 54.08...it has reversed! at 52.40, which is essentially a bid from 52.50 as OIL trades ROUNDED LEVELS and the ALGO's front run these key levels in "measured moves" which we refer to as RANGE PLAYS here in our Forum.
Each reversal area is IN YELLOW and those levels are 50% marks of the ranges MEASURED. Hence, they are called MEASURED MOVES ("MM" or "MMs" here in this forum).
The author here made some key discoveries:
1. PRICE DOES NOT REVERSE PRECISELY. They always FRONT RUN but more often, they allow price to SLIP PAST REVERSALS as we see here, with a dip into 52.22...very close to:
2. A CENTURY LEVEL or a TRADER's rounded level.
The S&P500 Futures runs into KEY ROUNDED LEVELS or centuries, and one might be our 2300 level, and certainly every $50 mark along the journey in price action or in RANGES.
$52.25: we can say that the BIDDERS have BOUNCED $52.25.
NEXT POST, the shorts opposing our long.
Dave
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