LeMercenaire wrote:Dead Horse trotted to a very nice level formed here. Where to next, we wonder?
This is a set-up I've been mulling over. I know what it is - but it's also one of the few set-ups that can catch Dead Horse out (at least the way I play it). Looking at DH as it stands, it looks like a healthy short coming but often it isn't and fingers and toes and anything else exposed gets burned.
So, I noticed:
It always ties into the level formed by the fakeout halfway up a move to the left. Luckily this is easy to see in hindsight for reference.
It doesn't matter so much on the lower timeframes I usually use. However, I have been using the 30 min for CL and a couple of others with similar movement profiles.
So to help, what I actually have here is a stripped down version of my Thunder and Lightning, with the double Kijun-sen, with a 50-ma added.
All of a sudden, a lot clearer.
I would now be waiting for a clear move and hold below the zone, the Lightning should break out from the Thunder, then Dead Horse should stamp his hoof and in I'll go. I can also use it to play any fake short and continuation move back Long.
Has the higher time frame done it's thing by picking up liquidity for shorts to kick in?
If so, I see lots of place that need cleaned up below in ur above chart on 30m.
All hinges on HTF levels.
Monthly Gap above which is a draw.
Sitting at a weekly Breakout/retest and it bounced down a bit.
Double inverted hammer on H4, LOL
You know we going to $100 a barrel eventually. It's all a scam, just like the MINUS $40 below.