By Mike Wilt
I am writing this blog article in the spirit of sharing my insights. These are my thoughts and opinions and it is how I see the patterns. I would encourage others to both comment to this blog posting and to share your thoughts, observations and successes in the room. I look forward to hearing from many new voices. Continue reading
Sometimes it is of great value to analyze how a market organizes itself in various ways. The 30 min chart is certainly used extensively by large traders to balance portfolios and to make trading decisions and it is often of value to know what these traders are doing- especially if you trade on a lower time frame. Note you must be logged in as a room member to access the rest of this article. Sign up now to get access.
Today was a fairly tough day to trade early on and I expected the market to break higher for various reasons as pointed out in the live trading room, suggesting that the market would look for the next Continue reading
Today was a trend reversal day in crude oil. These days can be challenging because you have a trend that is going against the larger trend. As more and more higher time frame players are forced to cover their shorts, and new buyers come in, a trend can resume.
Typically as this occurs the market will be trading into Continue reading
By Mike Wilt
Rob suggested that I write a piece for his blog on the M (short setup) and W (long setup) formations. These are nothing other than ABC formations however they are easy to see once they are formed and exciting to watch as they materialize and you make money off Continue reading
One of the key concepts we deal with in the Oil Trading Room is that of open zones. An open zone is an area on the chart that is unfettered and open for expansion. Trading into an open zone can help to make you a winning trader in a big way if Continue reading