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Market Profile Chart Daily Candlestick Chart
What do the Candlestick charts say?
What does the Market Profile Chart say?
Pros:
Stop above recent swing high. Good Risk Reward Selling Top of short term
consolidation.
Cons:
Counter to yesterdays reversal NFP may increase volatility
Short term sideways consolidation. Marabuzo support at 111.39
TRADE IDEA:
SELL 112.75STOP 113.45Target 1 111.50Target 2 110.35
Brent Crude Futures5th October 2012
Market Profile Chart Daily Candlestick Chart
Yesterdays action squeezed the shorts with the move accelerating from 110.77.
Open 108.20High 112.69Low 108.02Close 112.28Change 3.77%
10DMA 111.0420DMA 112.1350DMA 111.45
R3 118.64R2 115.67R1 113.97PP 111.00S1 109.30S2 106.33S3 104.63
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