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I just keep buying below developing value and scaling out at the dveloping value highs at the moment
Managing risk the best i can and trying to hold a contract for a break out to the up side targeting the upper end of yesterdays highs
Have seen a lot of buying absorbtion at these developing value lows....
Have see a lot of lower negative cumulative delta here...but no lower prices..buyers absorbing the sellers every time
Also be in cautious....as we could see a spike down here and finish the job off i expected yesterday into the close
" 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"
Its nice when a plan comes together....especially on a friday
was expecting a bit more of an epic finish to the day......the oil gods decided to not let it rip higher into the close
Great week here
Wish you all a good week end
" 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"
Looking to make the switch over to Sierra charts in the next few weeks
I thought the Learning process of Sierra would have take me longer....been playing this after noon and looking good
I like a lot, its seems a lot more complex but hopefuly more stable and reliable
" 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"
Having just come back after several months of a break, feeling fresh and ready to dig deeper, I decided to explore some of the things discussed in this thread. I don't mean to get in the way here, and realize this is about a view of the market I am not that familiar with. The chart I just posted is somewhat off-topic...
But I do trade almost exclusively crude, and am trying to get up to speed with you guys.
Yeah, my mentor did not like any indicators on the charts when he did S/R analysis, and I understand why. It interferes with seeing structure. Without it, price action can just look like pure chaos.
That is one of the things that draws me to this new direction, is that it is all about structure. MP, IB, POC, VAH/L, etc., not indicator based but structure based. Actually, it combines the two things I really have learned to respect; Volume & Structure.
Not in the same terms you guys are using maybe, but as of last Sunday, there were two major confluence zones below crude, and price is currently inside one of them. Last week it was defined as roughly 92.60-93.20, "93" for short. I came to market on Friday as a buyer because of that.
Going into Friday's close, I think I saw (this is where this is new to me) a "Neutral'Extreme" day(?), suggesting buyers were taking control.
That, and it was Friday and buyers were absorbing price around the lows earlier in the day, so there really was no where to go but up into the close.
