Here we have a close up of each little pivot in price activity.
Today was one of those days that really started it's move at 6PM the night before from the 1089 level. These days can be frustrating in terms of having missed a significant piece of the move-up during the overnight session. The range went from 1089 to the high of 1111 -- 22 points.
But the 9:30 open saw us at 1103 which was only 8 points from the high of 1111.
I took the time to put up an exagerated view of the FRO to illustrate how the indicator expresses changes in buying and selling pressure that dictates future movements.
I suggest that you print these out and memorize these formations. Ask yourself, "What happened?" after each formation.
What happened after the "LML" and "HMH" peaks and valley's?
Remember, you are building up your "sight vocabulary" of formation recognition.
Most -- almost all -- of the traders in the world have no clue how this indicator so precisely forecasts coming moves. And it does so in a way that allows you to pull cash out of the market.
Today was about 8 points up and 8 points down -- 16 points @ $50 per point = $800 per contract. Multiplied times whatever number of contracts you trade.
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WARNING: Trading futures involves risk and you can lose alot of money. The information contained in this entire blog is not intended as financial advice. It is posted at no charge, strictly for information and education and entertainment purposes. Past performance is not a guarantee of future results.
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