I just can't stop smiling ... almost forty points with not one pullback of 5 whole points lol I'm not speedo, but if you just study it a bit it will come to you: With trend pullback entries. The indicator on the bottom is telling him where price is relative to the range of the last 10 bars. The MA's are simply a clear indication of the trend - fast above slow and rising = uptrend. When price pulls back to the lower 10 or 20% of the recent 10 bar range while the MA's are still right side up, it indicates a long opportunity. I assume 1500 contract is his scalping chart, and that he uses the 13500 for "longer term" entries with larger targets, or he uses the 13500 to tell him which direction to scalp on the 1500. What I cannot anser for speedo is how he enters, whether with limits or stops. That is a money set up, imo. Not much different from what I do, I just don't rely on indi's much (though I do keep a 5 minute with a 20 ema on it because The Money, remarkably, also watches that thing if my several years of daily tracking stats are telling me the truth. EDIT: Sorry - he is using a 1500 tick chart not contract chart, my bad.
If this breaks Tuesday's high and holds, then it's all the way back to the scene of the crime ... the 9/21 high ... I mean, other than the fact that this i s a bear market, what's to stop it? Unless B1 has some well funded friends in Dubai who can shout it down all by themselves, what's to stop it? EDIT: Though it is the lunch hour, if someone orders Chinese, then we ccould have another mini-crash. But those seem to be temporary.
Who knew bears could climb like that? And all B1 can do is look up and watch ... he's never seen a bear go this high!
More strangeness right now ... I'm looking for signs that buyers have been waiting for a pullback and so far I do not see too much interest.