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Closed at +15, not what it should have done, bt teh ES will not let go and we ware too close to the 2:30EST close. ES short covering has too much fear in the market, but crude definately has sellers. maybe tomorrow. End of day +61 ticks, very choppy.
Yes, in some ways. I am following a higher timeframe and take signals in the direction that go along with it. CL is overlapping, which is a corrective pattern, and has yet to show any real strength around it's resistance areas, cannot get above the major 382 nor the minor 618. See below.
But shorting is typically more volatile, particularly near the top. That is why I am so quick to step back out instead of allowing my stop to get hit. if we had crossed the prior low major pivot, I might let my stops ride. The pink line is an exhaustion alternate, and it hit that nearly to the tick.