CL trading is done for today... profits booked, price action is roached out via FOMC blather until tomorrow. Platform shut down, mission accomplished successfully as usual. Nothing more to think about far as markets & charts & trading (aka "work") until next session, then we do it again as usual
Demand line (previous support) became resistance on the 1-min chart. Price action is still chop/range with a leaning toward a test of the .80 zone.
Notice the importance of positioning with airspace to the range low, rather than selling an initial break of the range low. Initial breaks of ranges (other than narrow range consolidation in a defined trend) tend to fail.
[Short-ened QUOTE=NoDoji;3934466]The most profitable price action environments (defined trends and defined ranges) are the most difficult to trade. %%%%%%%%%%%%%%%%%%%%%% Good points IF education/books seem exspensive[in time + $$] try ignorance, especially with leverage.All start out ignorant, not all start out with leverage.
on a 5 yr and 10 y its at fair value http://i.imgur.com/JrpMY94.png 5 http://i.imgur.com/gT2sPlC.png 10 http://i.imgur.com/k13t0kh.png 20 pt hns started in april http://i.imgur.com/zKOa6cA.png tightening tri needs to break up or down watch, wait and see,nothing here for the larger timeframe gawker
I was surprised to see it defended so strongly. ADD: OK, I see there's a micro trend line being defended ahead of the low.