10:31 am EDT: Next resistance is contract highs in confluence with trend channel resistance and day-session-only R2 (1128.50 to 1129.50), then monthly R1 at 1132.75.
Green lines are the same since the prior posting of this chart around Dec 22, yellow are new.
Disclaimer: The information presented on this site is for educational purposes only. No personal trade recommendations are being made hereby. Trading futures is highly risky and you can lose a substantial amount of money. Past performance is not necessarily indicative of future results.
__________________________________________________________
Copyright © 2010 The Precision Report
sdg
on January 4 2010 at 15:26:25
135 min chart … trend is up and last bar on Thursday was bearish outside bar(OB) that should have confirmed today by making a lower low. Instead market broke the high of the OB and a long entry was trigerred at 1119.75 with strong upside momentum.
sledbug
on January 4 2010 at 17:06:22
Hi sdg
What do you mean by bearish outside bar? outside of what?
Thanks
sledbug
sdg
on January 4 2010 at 17:17:42
OB = higher high and lower low as compared to prevous bar. It is bearish if close is near the lows.
Bob English
on January 4 2010 at 17:33:47
@sdg: 135 min chart looks good. Are you a breakout trader?
sdg
on January 4 2010 at 17:48:23
I trade breakouts and other patterns as well. Thanks Bob.
sdg
on January 6 2010 at 12:28:19
Bob your trendlines on the 81 min chart are excellent. Is there any way you can post the chart as a downloadable TS workspace? Thanks.