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CL and ES leading indicator


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CL and ES leading indicator

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  #1 (permalink)
 aquarian1 
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Here is a relationship I noticed today.



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  #3 (permalink)
 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
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Broker: IB
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RE may 22

There is a slight advance notice with CL in the early morning, with the green line CL topping before the blue bars ES, then the lows align in time. Next CL has a dramatic spike and hits it maximum level. CL falls makes a low below its previous low (confirming its downtrend for the day). It makes a retracement and then drops off.

Notice that its retracement high preceeds the ES high. This gives you a warning to short ES.

How low will ES go?

Since the CL broke its low (prior to the retracement -0.75% area), then it could be that the ES will break its low (at the 0% area).

I hope it helps!

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 aquarian1 
Point Roberts, WA, USA
 
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according to this test ES should break 1317.50


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 aquarian1 
Point Roberts, WA, USA
 
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22 May 2012


interestingly it had a touch and bounce of 1317.50 and now has gone through.


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 aquarian1 
Point Roberts, WA, USA
 
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22 May 14:27


https://screencast.com/t/kUvf82P240KE

2012-05-22_1446 - aquarian_ian's library

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 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
 
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Posts: 4,035 since Dec 2010
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 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
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Broker: IB
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Posts: 4,035 since Dec 2010
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too funny alligator!

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Last Updated on May 28, 2012


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