Oil breaking out over $51.50 good solid volume on it.
Who in hell is buying this here?
The pattern that dropped it-intraday H&S is also in reverse on the dip. See the upside down version at the dip?
These work in the inverse fashion too.
Looks similar to last few days where an opening gap up is sold and then it's pushed back upwards for distribution purposes. The chop in the chart is what tells this imo.
Three of these have the same pattern. The RUS2K is a V bottom and indicates options purchases so no volume bars. Reported elsewhere in the options chains traded on COMEX
saved that one!
7e9ad3 (1)
copy pasta boy's one and only post..so far.
surprised they even try it now.
Still waiting for that visit!
"hold up…checking messages…nope no interview with done yet"
Oil hits overhead resistance at $52.50
So there is ZERO confusion on the market updates the perspective given is intra-day and is not intended to be long term at all.
Trade what you see and not what you hear or biased by a long term view. This is applicable for long and short positions if you want to be nimble and not hold things overnight.
Nothing wrong with that strategy if the trend is in your favor. Get your profits or losses booked before the close and you sleep much better at night. You cannot control the news and will lose sleep if you hold and hope on both sides.