Hello Traders,
I woke up feeling a little under the weather and had pressing issues on my mind today. I had decided to not trade based on Yesterday’s action that we would grind a bit today to at least after the EIA report release.
One thing that I thought going into today was that the levels I marked on my chart yesterday would be a great place to run some buy stops if we would go back down to the 9100-9080 level. This did not disappoint. The market did turn down in the afternoon and went and revisited the levels of yesterday … now as I look over the CL market we are trading right in this former area of support from yesterday.
How best to take advantage of this in the trading future?? I am in the support and resistance chapter of Anna Coulling’s book on VPA right now. Which is very much like saying Tom Williams VSA … but in this case instead of her calling it a “spread” in the candle … she calls it the “spread and price action” of the candle.
This Chart was of great interest to me today … notice HIGH BUY STOPS run through:
Very interesting to watch … see the large RED Volume Bars … this was the “insiders” running stops today … in my very humble opinion!!
God Bless and Good Trading,
David AKA Tiger
P.S. Anna Coulling’s Book on VPA: Volume Price Analysis
I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.
