A lesson for oil traders: An old German Shepherd starts chasing rabbits and before long, discovers that he's lost. Wandering about, he notices a panther heading rapidly in his direction with the intention of having lunch. The old German Shepherd thinks, "Oh, oh! I'm in deep trouble now!" Noticing some bones on the ground close by, he immediately settles down to chew on the bones with his back to the approaching cat. Just as the panther is about to leap, the old German Shepherd exclaims loudly, "Boy, that was one delicious panther! I wonder, if there are any more around here?" Hearing this, the young panther halts his attack in mid-strike, a look of terror comes over him and he slinks away into the trees. "Whew!," says the panther, "That was close! That old German Shepherd nearly had me!" Meanwhile, a squirrel who had been watching the whole scene from a nearby tree, figures he can put this knowledge to good use and trade it for protection from the panther. So, off he goes. The squirrel soon catches up with the panther, spills the beans and strikes a deal for himself with the panther. The young panther is furious at being made a fool of and says, "Here, squirrel, hop on my back and see what's going to happen to that conniving canine!" Now, the old German Shepherd sees the panther coming with the squirrel on his back and thinks, "What am I going to do now?," but instead of running, the dog sits down with his back to his attackers, pretending he hasn't seen them yet, and just when they get close enough to hear, the old German Shepherd says... "Where's that squirrel? I sent him off an hour ago to bring me another panther!" Moral of this story... Don't mess with the old dogs... Age and skill will always overcome youth and treachery! BS and brilliance only come with age and experience.
Looks like the previous days A down level around 97.00 may have turned into support. What do you think?
trading box is 96.60 to 97.50. longs at lows and short at highs had only chance. with some nice moves in between off longs from 97 for couple of 30 ticks moves. So 97 had been a support for an hour or so. But it got taken out around 11.53 am
Couldn't disagree with you more. They are points where decisions are made, if price fails at todays A down and heads back up to yesterdays A down level and is quickly rejected, you have a point of reference to trade from and to place a tight stop at. Take a look at any chart, particularly the dollar and the euro, this pattern repeats itself time and time again. I respect however you use your A levels. Please don't discount what I see happen every day just because it doesnt fit into your mold. Thanks