Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
We just put in a new momentum high on the 5min, but not a new high in price!
If you can keep your wits about you while all others are losing theirs, and blaming you....The world will be yours and everything in it, what's more, you'll be a man, my son. - Kipling
5min new momentum high without a new high in price mentioned earlier played out to the downside.
Nice overhead resistance going into the NY high with the previous day high, previous week VAL and the week's open all overhead....diverged on the 5min and every chart down.
Load and reload all the way to the bottom on the retraces with the 300 volume chart. End of trend paint signal and diverged lows for the exit door!
Played out the rest on Brent.
Solid day overall!
If you can keep your wits about you while all others are losing theirs, and blaming you....The world will be yours and everything in it, what's more, you'll be a man, my son. - Kipling
Yet another sign bear move may be over. (Bear move meaning down move that started towards the end of June from the top of the red wedge we are in.)
Regardless if it is indeed the end of the bear move, undoubtedly the reason we're seeing the buying tails is from A) the unwinding of longer term short positions, and B) the initiation of longer term long positions.
Wonder if this information is starting to show up in the COT reports? I have never looked at one.
If you can keep your wits about you while all others are losing theirs, and blaming you....The world will be yours and everything in it, what's more, you'll be a man, my son. - Kipling