I don't think you're understanding my point so, let me explain better what I meant. I guess I was assuming you would understand, sorry about that.

My point was, looking at a one minute chart on crude oil is very myopic in my opinion. The swings are typically huge and are better observed with a larger period.

As for the move in question, I've attached two charts for reference. The first is simply showing a basic pullback to a 100 EMA which can serve as support and resistance on a trending day. The second chart is the same thing but with the footprint showing how volume dried up on the pull back and found support at the EMA and consolidated until the unemployment report came out. At that point, a flurry of buy market orders hit creating an extremely fast moving market making fills appear to be all over the place. These orders were most likely algos firing in orders and pushing the market higher.

So, my point is, the market pulled back to support. On a time based chart like a one minute, whenever you see big bars and then a bunch of small bars that pullback in price, that means the market is simply pulling back to support. Once support was found, you can see more strong thrust bars come in. This is basic market activity. Hope that helps.

Oh, I guess they finally closed that huge loophole.

https://www.nytimes.com/2012/03/23/us/politics/insider-trading-ban-for-lawmakers-clears-congress.html

Mike

The STOCK Act was intended to stop insider trading by Members of Congress. However, section 11 of the Act, which was added without any public hearings or consideration of national security or personnel safety implications, requires that financial data of over 28,000 executive branch officials throughout the U.S. government, including members of the U.S. military and career diplomats, law enforcement officials, and officials in sensitive national security jobs in the Defense Department, State Department and other agencies, be posted on their agency websites.

...

SF-278 forms include a treasure trove of personal financial information: the location and value of employees’ savings and checking accounts and certificates of deposit; a full valuation and listing of their investment portfolio; a listing of real estate assets and their value; a listing of debts, debt amounts, and creditors; and the signatures of the filers. SF-278s include financial information not only about the filing employee, but also about the employee’s spouse and dependent children.

Thanks, very nice footprint chart. I'm trying to figure out how to read it. this is not just volume depicted on a tick by tick basis, right? is it sierra chart or market delta? I wish I've a nice software package like that...