alleytrader

alleytrader

Oil is in a down trend stuck between 2 distributions so a move below red bottom should have us go back to a choppy trade in the 53.50 area and a move above the top Red zone should produce the same chop 55 area. now that could provide some nice bottom zone longs for .8 points long and a short from top of .7 points.

alleytrader Updated 

2:00 interest Rate decision fro FED, most likely will be sideways chop til that time. Play Safe!!! Above 3046 The first target I have 3055 Lower targets are marked as always with the blue lines, and the orange line are old accumulation and distribution areas so worth watching. Will be doing very little to maybe no trading prior to 2:00 the action is not often...

alleytrader Updated 

Today due to oil inventor report at 10:30 and interest rate announcement at 2:00 the red zone will be larger, And this also makes since seeing that after RTH session yesterday we forma big balance zone. I will be careful today but until we clear this zone will be looking for trades back and forth inside the red zone.

alleytrader

Keep in mind FED tomorrow and often that takes big movements out of the market, however this market likes the up side so will watch the top of the red zone close for break and test entry. If we do not break then the red zone chop is my primary idea. however a decent drop will provide some good targets for lower prices. today will depend entirely on how the...

alleytrader

we are moving in a downward direction and could see this continue to at least 54.25 area. I would like to see a bounce up to short but will see how we act around the red zone. a move back above 55.60 should take us back into the upper distribution and have us enter chop around 56

alleytrader Updated 

The current move is long in a balancing consolidation and will need to move above the red zone for further up move . If we can not get back above I will be looking for oil to consolidate and then test lower prices again, and as a guess only I thin the 56 area could be oils happy area for a while.

alleytrader

Over night move has pushed to new highs and is balancing at the top side of Friday's action indicating it wants to move higher. In the smaller time frames we have had a little bit of rejection at the top so this 3030 level is important to the up move and should be watched close. I will be looking to see what happens on any test of lower levels and the test of the...

alleytrader

The S&P is trading in a complete balance inside yesterdays action and the top and bottom of yesterday should be viewed as support and resistance , however the red zone could provide that S and R also. until we move out of this red range I will be trading the inside back and forth.

alleytrader

Oil is trading in a consolidation at the top of this current range and looks like it wants to go higher. Will look long up to the 57 area on any action showing long prints

alleytrader Updated 

Oil on a strong move as mentioned one should be coming and now doing a formation of a flag that could provide a further move higher. Inside the red zone are 2 of our prior support and resistance lines(blue) and figured i would leave them on the chart today. I will be looking for a pull back down that I will be watching to see if it holds so I can get long,...

alleytrader

Overnight up move that is trading in good balance. I will first off be looking for a pull down and stalk a long trade for any attempt to move up to 3020 area. Opening strong down move could change my mind and have me looking for a down trade to the bottom of the red zone and then into a choppy session as we keep seeing. The past couple weeks of choppy day time...

alleytrader

nice overnight balance zone that is big enough to get some good consolidations trades off from inside the red zone. The first couple of blue lines are my break out targets. I get the idea that bottom may have been found but only time will show me if i am right or not.

alleytrader

oil keeps getting tighter and tighter and will break out some time soon, but until then my range and expectations keep getting smaller also. so the inside trade is getting hard do to small rant but will watch 54.30 area for rejection and 53.20 area for a bounce.

alleytrader

Over night up move creates a long set up and will be looking for a open drive or a 3005 area pull back test, that is my primary focus. will also be watching for a trading action day. Will see if I can get some updates out today after the (hopeful )action starts.

alleytrader

Big trading range that will break out sometime but until then will be shorting from top and long from bottom, will update if anything changes, other than that not much else to say

alleytrader

Big range that will not be exciting until it breaks, and with some earnings this next 2 weeks the move could happen. Will be watching for breaks and impulsive moves other than defined action will be trading the extremes of the ranges.

alleytrader

Not a lot to say about oil trading other than it is in a range inside a larger range so will be trading it like water sloshing in a bucket

alleytrader Updated 

Now we had a very interesting move in the last 24 hours and give us more to play with. Today the red zone is now very small and will give a more clear trade opportunity so will watch close. That said being Friday the move after this pop can be consolidating. I can see a pull back all the way to 53.75 before the up move takes off again and below that area will...