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We were in the 2nd/3rd Dev Vwap area (Over bought)
We rotated clearly side ways in a range from 93.08 to 93.19 with doubble top resistance above us @ 93.22
It was a doubble top area from yesterday
Here was the market structure for the trade set up
Just another observation, we also hit the month Vwap 1st upper Dev
As were only 2 days into the trading months i really dont know how relevent this is...but an observation
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Hey Guys, gotta head out, but this is what I see based on the parameters of this thread:
small buying tail, in value based on yesterdays VA. I have a book that claims if you spend two 30 min periods in Yesterdays VA, there is a 80% change it will fill. We'll see if my analysis is right when I get back. Good luck. There is higher lows on the 30min.
Sorry if my screen shots are kinda tacky, just using the free snipping tool that came with computer
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Happy New Year!
There really is no relevance of the developing monthly VWAP at this point. You should be focusing on the previous month's VWAP close levels when looking at the bigger picture. The market has been finding resistance thus far at the 3rd SD closing level from last month and very far away (stretched) from last month's closing VWAP (88.00 area). This could be a magnet for price to works its way down and tag that level. There's a lot of work to do in the meantime to get there however so, not thinking this will happen anytime soon but you never know. We still have two unfilled gaps above that could be revisited before going lower. Looking neutral right now with a slight bias to the upside since the Ponzi machine has prevailed.
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Thank you! My vacation is not over yet but have been keeping an eye on things because of the current market events. I'll be back in action full time next week but had a great New Year.
I only have my profile data loaded for 120 days at the moment
so any thing above $101 i cant see yet
Just curious to see if our software is on the same planet
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
