We have a predefined Kane ABCD, medianline set incorporating the extreme swings of that ABCD, nice separation and retest.
I guess Geo's 93% rule should be in force now ...
JI
jimkane
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Yes, that's the basis for my area, but look at the natural set upper // here, intersecting with a TL from below, from 7/31 to 8/11-12, which gave me that low on 8/14. But we all know we'll be in the 1,100's soon, then the 1,200's...
JI
jimkane
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October now trading over 74, just a little off the contract high, with a wicked cup and handle here. I have a super-major area around 85 on the continuous, but not sure how that may adjust, if at all, with the coming rollover.
JI
jimkane
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So, the move in crude today off the low has been $4.45 so far. That's $4,450 per contract, so that would be 89 points in the ES. Hmmmm, should I sit here all day on most days and watch the ES chop, or trade the CL? Hmmm, I'm not sure...
JI
jimkane
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Posts: 33,089
How about 100 shares of USO? Even without margin that's less than the minimum recommended amount for one ES contract. 65-day average volume over 12 million shares, so it's liquid. Or one of the leveraged ETFs like roofer likes, for even less layout, and some leverage to boot.
