mxb1961

mxb1961

Simply watching now. Re-positioned pitch forks on monthly. Are they valid or indicate future price direction/possibilities, maybe. If price closes April below 0 then next several years a negative price could be a new normal. Not even sure if that is possible or makes sense or what a world looks like with a negative Crude Oil price for a prolonged period of time.

mxb1961

Potential pitchfork setup on Crude Oil monthly chart. Last two weeks of April can give insight as to potential. Pull off of lower parallel with good separation could signal a bottoming of price.

mxb1961

Looking at indicators and layers of chart (daily renko 50pt blkszk traditional on OHLC), could SPX be set for another big run? 3400 will be a key line to break.

mxb1961

Short term, it looks like EURUSD could be forming a channel with some upside targets.

mxb1961 Updated 

Possible short term trend of BTCUSD. Stoch, TSI, and ADX look to be positive but would need a break about 7000 and out of the triangle that began forming mid March to continue up (daily renko set at 250blksz and ohlc)

10:20

mxb1961

This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...

16:35

mxb1961

This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...

18:17

mxb1961

This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...

18:07

mxb1961

This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...

16:13

mxb1961

This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...

18:16

mxb1961

This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...

14:39

mxb1961

This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...

12:44

mxb1961

This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...

11:43

mxb1961

This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...

mxb1961 Updated 

Looking for support in the area of 143x in the coming week for possible buying opportunity. 143x will coincide with the high volume line (Point of Control (POC)) from last week's range on 2hr chart and the new pivot for Feb. If support forms at this level, I'll look to the 5pip/3min chart for a setup to enter long position. If price breaks below this level,...

mxb1961 Updated 

For the 27th: VA - Overlapped Bullish (prices could still have some upward bias in this correction) CPivots - Overlapped Bullish Market Type - Trading Day - Although market did trade outside of IB (initial balance), it did trade within the R3/S3 pivots most of early part of day until US when it tested S4 but buyers took it back to close at R3 pivot Price was...

mxb1961 Updated 

Small pivot range set from last session into current Value area overlapped and down from last session POC's basically same and aligned for past two sessions Previous session looks like an 'expanded typical day' following the previous session of a 'double-distributed trending day' Plan for 27th: Wait for IB to be set. Could help add clarity as...

mxb1961 Updated 

In his book "Secrets of a Pivot Boss", Frank Ochoa walks through the 7 types of market days a session (day) could be. I'm interpreting Friday as a 'double-distributed trending day'. In this type, the market will set some early distribution, drop, then distribute a second time later in the session. The following session could be some type of consolidation which...