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look at my charts from yesterday. After A up was made yesterday, CL pulled back to OR high of 98.52. Thats where i like to get long. Strong A ups/ A downs only happen 30% of the time. CONTEXT is very important.
I lost quite a BIT when i started trading ACD- as i did not had CONTEXT.
Noise and volatility bands plot automatically when indicator is applied. The noise level is known, so the noise bands are stable right from the open. The volatility bands move, as you can see. They are attached to the current days low or high, that is
target band high = current low + expected volatility
target band low = current high - expected volatility
I have not added fib confluence here. I use them as support and resistance in a similar way that I would use floor pivots or yesterday's high and low.
MF,
I'll try to post pre-market with you.. I goof off too much in other rms discussing senseless stuff while this gem of a thread is where its at.. Another good day tdy in CL.. I would note that I think with CL, its important to enter at a level where your stops can be behind a level and yet, remain within 10-15 ticks.. In that case, don't even hesitate if its a decent level and is holding..
BTW- ES tomorrow may be a volatile day as the piv and 3drp are very tight together.. 3drp=1315.25/1315.50 piv=16.25
Lots of support with congested POC between 07-12.. If we take that section out, it may be significant. However, I suspect it "might" hold and we go higher due to the strong levels under and DAX BO TODAY to the upside on their daily..
The volatility targets are calculated from the average daily range over the selected session. In the example as per post #372, the indicator was set to use the average daily range of the floor session for CL 03-12.
The daily average ranges are displayed in the upper left corner of the chart.
average RTH range for the last 10 days: 1.83 points
average RTH range for the last 20 days: 1,74 points
developing RTH range for the current day: 2.08 points
The average ranges are added to the current day's low and subtracted from the current day's high and then show as targets based on the volatility of the previous 10 and 20 sessions.
Long 99.62 out 100.08. waiting to see what happens at OR high of 100.24. Also watching GDP news sell off point 100.50. May try failed A up set up. Above 100.50, it's not stopping till 101.20 or so.