The anatomy of a chart from someone who has no clue as to what is going on and always knows what is going to happen next

White dots are 15 and 45 minute marks
Red squares one hour (top of the hour)
Green dots half hour

Blue/ red lines are 55 RSI (support/ resist)
Cyan/ orange 34 RSI
Dark red/ green 17 RSI w/ smoothing
Candles VSA_Lite 89 period lookback w/ two standard deviation moves

Cheers

-Bill

As long as this Capt Happy HS keeps going

Quoting 

Live Squawk ‏@livesquawk 21m21 minutes ago ECB Boost Greek ELA Allowance To EUR65 Bln

... we'll continue to have volatility in the markets

-Bill

If i get 2-3 FLUSH UPS and FLUSH DOWNS in a week, i will be a very happy trader. Problem is we do not get them and i start looking for other set ups - which is OK but i tend to use wrong position size on those days and when A+ set ups come, even though i have right position size, i get shaken out and cut down size.

I have been working on this for 2 years but OLD HABITS die hard. That's why during first couple of years it's important to develop right habits. Unfortunately i acquired all the GARBAGE during first 3 years and still trying to get RID of them.


NOTE: I have no idea what CL will do or should do. All i know when everyone is BULLISH, i take theother side and vice versa.

@mfbreakout

"All i know when everyone is BULLISH, i take the other side and vice versa."

That's as good a plan as any

-Bill

Majority of traders were drawing all kind of stuff on their charts when CL was at 54 and calling CL target 57 and then 60 etc.
When 50 broke this week ( i have no idea why that will be important) they start looking at 45 and then 40.

I just try to keep following picture in mind. DON"T BE A BAG HOLDER.

NOTE: taking the opposite side ONLY when macro trend is bearish like in CL. E-mini bullish trend. I just look for longs on pullbacks. If i short- there has to be very convincing macro reason/news behind it.

mfbreakout 

If i get 2-3 FLUSH UPS and FLUSH DOWNS in a week, i will be a very happy trader.

I don't know if this will help or not.

But I'm starting to lean on Sierra Chart more and more each day (I'm sure there's a way to get the indy's I mentioned in a previous post and when I do ToS is out the door) but one of the nice features SC has (of many) is you can code the background to change color when the Ask/ Bid is at a certain level, ie hello we have meltdown or lift off.

Also I was in a @FuturesTrader71 and @DionysusToast webinar on TUE and saw Peter is now using SC. So I guess Jigsaw is now linked w/ SC (good thing.)

Anyway just a thought

-Bill_M

Some traders are just lazy and hide behind " I am a Pice Action" trader and do not either have time or inclination to see what successful Global traders do and how they look at markets.

British Global Macro trder Raul Pal is one of my favourite. Posting just in case some traders are in mood to learn something new.

The Law of Unintended Consequences - Raoul Pal
Raoul Pal, former hedge fund manager and author of the Global Macro Investor research letter, speaks on Real Vision in December 2014. In this eye-opening presentation, Pal describes the unintended consequences of a rising dollar - the knock-on effects to emerging markets and oil, the potential Chinese policy response, and why the dollar run could go further than anyone thinks. Click here to watch the video: https://hvst.co/1v6sQvR


NOTE: Raul is a big time technical and global macro trader. According to him he would be lost without charts. I have been a member of REALVISION TV for over a year now and love it.

Interesting tought provokoing title/ subject

@nanexllc

Quoting 

Anyone know the reason for the WTI/Brent divergence?

One reply was WTI tied to NOK

Others were production costs, storage etc

-Bill

EDIT

Well I'll be darned

Quoting 

Eric Scott Hunsader @nanexllc @Uozob It's not NOK (well a little is) - composition and production costs, perhaps

WilleeMac 

Interesting tought provokoing title/ subject One reply was WTI tied to NOK Others were production costs, storage etc -Bill

and somebody else asked "Is Brent more sensitive to interest rates?"


My fav was

Quoting 

SouthpawSlinger ‏@SouthpawSlinger 44m44 minutes ago @nanexllc seriously? this happens all time

But probably mostly due to an ever increasing storage situation at Cushing.

I don't trade using this information but its interesting nonetheless...