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1) More up. 2 consecutive unfilled futures gap down on Sunday night will be filled - all of them
2) Buy the dip after major distribution day (friday) good for a 2-3 day bounce
It's the very first touch of EMA20 in a long time (since the last Friday) which could attract some sellers.
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Good (relative) volume spike at open...could be (short term) capitulation. Just watching for now.
And, I always wonder/question how accurate the P&F chart data is intraday.
Sharing research and ideas only, this is not trading advice.
“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” – Doug Larson
And if you understand TC2000 BOP (Balance of Power) you see that on the 1 minute, on Friday, there was large lot buying EOD but it is probably short covering. Then today after the volume spike there is small fund selling followed by large lot buying noted in the green rectangles.
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Sharing research and ideas only, this is not trading advice.
“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” – Doug Larson
merryme wrote:And if you understand TC2000 BOP (Balance of Power) you see that on the 1 minute, on Friday, there was large lot buying EOD but it is probably short covering. Then today after the volume spike there is small fund selling followed by large lot buying noted in the green rectangles.
Today they will drag the price down enough to press the margin call on Friday. tomorrow may be more selling but quick reversal, I don't see that happen today. just guessing on the brokerage house practice.
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Need decisively break the blue line above to confirm double bottom.
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$CPC keep reading higher 1.35 now. this forces the MM to buy futures to hedge. will see tomorrow the buy panic action will continue and how big. I am ready to hop on along but not today.
My comments are for entertainment/educational purpose only. NOT a trade advice.