CL Redux

I am not sure how other traders trade $8 of down price move and the $9 up move without ACD reference points along with other concepts MF talks about in his book.

 

add to long 89.44. stop loss 89.39

 

stopped out

 

89.40 level was broken to the upside on 2918 cars. price should not have come below 89.39. But it is not science, so anything can happen.

 

now safe entry for longs for me is 89.10 area unless , i want to place wide stop loss

 

Accumulation or distribution- is the question of the hour.

 

wondering why price stopped at 89.40 area?

 

MFB, is your "micro resistance" a MF idea, or just basic s/r on a smaller scale?

 

Josh- it's basic s/r on smaller scale. plus some concepts from Market Profile.

 

Perhaps a stretch, but here is 9/1: