NickBlack

Weekly Journey X - Range movement, breakouts, support+resistance

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
As you can see, there are 4 important points that might be the crucial checkpoints tomorrow.
Predicting that Nr. 1 is a 99% probability (the only way we can pass that range is if it gap opens
up or down by +-40 cents). Nr. 2 has 45% probability from Nr.1, Nr 3 has 55% probability from Nr. 1.
Nr. 3 has 75% probability from Nr. 2, with 25% probability of a continuous move downwards.
Nr. 4 has a 55% probability from Nr. 3, with 45% probability of a continuous move upwards. At Nr. 4,
there is a 60% chance of staying in range, and moving upwards, and a 40% chance that we will see
a continuation of moving downwards.
- Percentages are derived from my personal research that include news, "smoke", data,
recent movement, fibb lines, medians, support and resistance strength, fake/true breakouts and more.
They are also strictly my personal opinion. -
Probabilities and statistics are always part of my work, which I will publicly incorporate into
charts from now on after testing them for a month privately.
Nr. 2 is a very good point for a Long entry, Nr. 3 would be a decent Short entry, whereas Nr. 4
might be a solid Long entry if the MLH holds (staying in range) with a tight S/L.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out