David what are your current thoughts on this retracement? On trending moves like this what time frames should we be using on the Phoenix to determine if we will see continuation or a further drop? The 12hr rsi is still well above the 56 level and it was when the 6hr white energy crossed the 50 line so no significant drop should be expected but we have seen almost a 400$ retracement. Thanks for the help and the knowledge! i love your indicator, it is a very cut and dry way of trading and I am excited to continue learning its nuances!
"Operation "Lull & Squeeze" in Progress; Please Be Super Careful."
keifer
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Yah the MM's do roll that way. This move up was unexpected but I had a long in anyways from the bottom, I trailed my stop and got stopped out. Better in profit then not. It will be interesting what will happen in the next few weeks.
Yes, I'm looking forward to the next couple of weeks. Curious if it plays out in somewhat similar fashion to 4th Quarter, 2015 or if it goes up hard. If we go up hard, the 14K will get left behind in a heartbeat. Time will tell.
keifer
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@WyckoffMode, Be amazed if the rumor from years ago held. 250 k to 1 million. LOL
keifer
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@WyckoffMode, Log scale I did a year ago seems on track.
Gaengphed
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Payday has come...adding to my stack! ;-)
Thanks for the valuable info in this video. Happy trading and stay safe!