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DOK Ch.2
http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=61&t=3443		 Page 1 of 1
Author:  Bobbygr [ Fri Jun 23, 2017 2:33 am ]
Post subject:  DOK Ch.2
A look into KME's (key Market Events) in this case, wednesday crude inventories at 10:30am which affect greatly the CL market price.
In this case the KME occurs before the 1st WRB HG which becomes the 1st WRB S/R zone.

3min chart

This is what happened to traders chasing the first reaction --> [ec39] then [ec43] then frustrated

PS. The 1st WRB zone may not be one in strict WRB Analysis terms since it doesn't follow any previous WRB HG'S and therefore doesn't result in strong continuation until the 2nd WRB zone. However , the close of the 1st WRB HG does close below that identified leg of 4 consecutive up closes with higher highs thus satisfying one of the "Bearish Swing Pt" criteria necessary for a valid WRB Zone indicated on the chart).
Also, if using my terms,that strong initial rejection and bearish following candle indicate a strong bearish move and could be considered as the first down leg which is continued by the downward volatily breaKout of the 1st WRB HG/WRB Zone)

Attachments:
DOK Ch2.png
DOK Ch2.png [ 119.46 KiB | Viewed 415 times ]
Author:  Bobbygr [ Mon Jun 26, 2017 4:48 am ]
Post subject:  Re: DOK Ch.2
A look into KME's (key Market Events) in this case, wednesday crude inventories at 10:30am which affect greatly the CL market price.
In this case the KME occurs before the 1st WRB HG which becomes the 1st WRB S/R zone.

3min chart
Swing Pt. #2
This is what happened to traders chasing the first reaction --> [ec39] then [ec43] then frustrated


PS. Since the close of the 1st WRB HG does close below the identified leg of 4 consecutive up closes with higher highs, it satisfies the "Bearish Swing Pt" criteria necessary for a valid WRB Zone. Also, if using my terms,that strong initial rejection and bearish following candle indicate a strong bearish move and could be considered as the first down leg which is continued by the downward volatily breaKout of the 1st WRB HG/WRB Zone)[/quote]
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