LOL, well I am using a different approach but nice to see we might be seeing the same thing lol... THings are pointing up but we are still hovering around 16.25/16.50. I think it wil pretty much stay flat the next few minutes until the open.... First level of resistance I see is 17.50 which is yesterday's close. Might get out there unless we move up strong at the opening. Otherwise I am still thinking of keeping a tight stop since a point or so down and we may head towards 1314 and lower. Just waiting and watching for now..
Right now I am using the hourly charts instead of my shorter term charts--still experimenting etc. --I go back and forth. Hourly still looks down to me--at least right now anyway. I wouldn't rule out a bounce again before downward pressure.
I think that the way the hourly bar looks like right now. That is to say if it finished at 10:30 the way it is now--Romik would call that a WRB . Is that right Romik?
Well I covered at 14.75 and went short same price, I think we could hit 1310 or so today and gonna try and ride the short down...
Yes, it is a WRB, but I look for shadows to be much shorter in size in relation to the body, that would establish lack of demand more supply. The way it looks now i wouldn't trade it.
Covered at 1311.75... 1311.50 was first support pivot point so got out as I expected a bounce off of it.