USOIL: TRADING RANGE MODE ACTIVATED

TR Mode Activated..........

Definitions
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UTL=UpTrendline = A line from the Lowest Low, upward and to the highest minor low point preceding the Highest High so that the line does not pass through prices in between
these two points.
DTL=DownTrendline = A line from the highest high point downward to the lowest minor high point preceding the lowest low so that the line does not pass through prices in between these two high points.
SX/BX =Sell Climax/Buy Climax
BO=Breakout
BOL=Breakout limit (Determined when price seize to make a new high/low in 5 bars since the last high/low following the initial rally/selloff after TL BO)
LH MTR = Lower High Major Trend Reversal = Leg up following the 'BOL' gets close to 'BX'
HH MTR=Higher High Major Trend Reversal = Leg up following the 'BOL' exceeds 'BX'
LLMTR = Lower Low Major Trend Reversal = Leg down following the 'BOL' exceeds 'SX'
HL MTR= Higher Low Major Trend Reversal =Legdown following the 'BOL' only gets close to 'SX'
TR = Trading Range (Tradable legs implied)
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The Logic
1. Trend trading until the weight of evidence tells of the absence of the trend.
2. And to trade the potential legs within the trading range, when price finally breaks the trendline, and enters into a tradable trading range, until there's a trading range breakout- continuation or reversal.

Comment:

Test of BOL underway

Comment:

Regarding that the initial minor rally from BOL to HH MTR showed a strong Buying pressure, 'Blue zone' becomes a good zone for a possible buy. That notwthsatnding we're still in a trading range, and legs- both up and down- would always seem to be the leg that would lead to the final breakout. But until then, we're still in a trading range. s3.amazonaws.com/tra...shots/d/dtxdd7K2.png

Comment:

5mins. This is interesting!; ) s3.amazonaws.com/tra...shots/y/YNnl6Nau.png

Comment:

Still in TR s3.amazonaws.com/tra...shots/s/scPEPjrD.png

Comment:

TRUE/FALSE BO s3.amazonaws.com/tra...shots/6/63d656c1.png

Comment:

1H Looking like a DT s3.amazonaws.com/tra...shots/n/Ny0mMCB4.png

Comment:

3PUSHES=WEDGE TOP s3.amazonaws.com/tra...shots/o/OWPyCiXZ.png

Comment:

HH MTR : s3.amazonaws.com/tra...shots/u/UnjgAF0e.png

Comment:

Broke out of TR but bad follow through , and the rally luks wedgy :P s3.amazonaws.com/tra...shots/4/4mhpPbGP.png

Comment:

The magnetism of 50 ! s3.amazonaws.com/tra...shots/d/dS8chszk.png

Comment:

Is this the start of the fall...? s3.amazonaws.com/tra...shots/o/ocfk2IgL.png

Comment:

s3.amazonaws.com/tra...shots/0/0pNQJvkN.png

Comment:

L2 short= micro DT
Pretty tight stop. Good reward, if it happens.
s3.amazonaws.com/tra...shots/v/v3yZymcz.png

Comment:

Awesome! ^_^ s3.amazonaws.com/tra...shots/w/w1qIwq41.png

Comment:

Potential short zone s3.amazonaws.com/tra...shots/v/V4TNbKZK.png

Comment:

Has it begun s3.amazonaws.com/tra...shots/p/pK83ofZb.png

Comment:

Thinking targets......Now that risk is out of way(Breakeven stop) s3.amazonaws.com/tra...shots/n/nRNoDPel.png

Comment:

Be mindful of yesterday's lows

Comment:

Are we not channelling down......? s3.amazonaws.com/tra...shots/w/wvYKcCXd.png

Comment:

Clean chart!
BUYERS LURK AROUND YESTERDAY'S TAILS !!!!
Now, Should we trade below yesterday's lows, and should we trade below 20MA on the daily, = A nice top formation could be said to be in
s3.amazonaws.com/tra...shots/n/nslfk5dP.png