"There are two confluence areas below; 98.65-98-75"


Crude hit 98.75 to the tick and had a major bounce. We'll see if it can hold.

[img]https://nexusfi.com/v/5dksjp.jpg[/img]

I almost forgot about the EIA today. Thursday... That could push through anything, either way. I'm hands off until that sorts out. Took one ES scalp this morning at the breakout of a minor triangle, net 6 ticks.

GaryD 

I almost forgot about the EIA today. Thursday... That could push through anything, either way. I'm hands off until that sorts out. Took one ES scalp this morning at the breakout of a minor triangle, net 6 ticks.

CNBC just confirmed oil inventory at 11 am. 10.30 nat gas. report

A down in DXY, A up in ES, TF and CL no confirmation due to pending oil report. CL had A down for lower time frame like 5 minutes etc.. I just extend my OR to accommodate oil report. I do use lower time frame OR to trade while waiting for extended time frame OR to confirm.

Mkt. internals have been positive right from the open.

GaryD 

"There are two confluence areas below; 98.65-98-75" Crude hit 98.75 to the tick and had a major bounce. We'll see if it can hold.

So far, so good...On the way to the high of the day?

12-29-2011. only 1 trade so far- 10.50 am

These trades are beyond ACD. However, using ACD reference points to define risk vs reward.

[img]https://nexusfi.com/v/kj5erj.jpg[/img]

GaryD 

"There are two confluence areas below; 98.65-98-75" Crude hit 98.75 to the tick and had a major bounce. We'll see if it can hold.

Looks like you were right on with that call.

100 ticks?

Will sell 55 with you Gary, if I get a fill.