Sandbox

[k p 10]

Hey emini.. let me see what I can come up with.

 

I think if there was interest by buyers, price would go up. We only went up about 5 points at the open and then it was downhill. So I wouldn't say buying pressure at all. This is all about tracking the balance between supply and demand. Yes for every transaction there has to be a buyer and seller, so its not like we can say there were more of one or the other, but if demand is really there, prices go up, and if there was too much supply, prices would go down. We have prices go down, but as you say, lots of overlapping bars, so there was still some buying pressure, or else price would just plummet/cascade down until it got low enough for someone to be interested in buying.

 

What creates the pressure is that the two sides don't agree on what is a fair price. If a buyer and seller agree on a price, a transaction happens. When you see price go from 3600 to 3600.25, its because someone wanted to buy, and nobody was willing to sell at 3600, so we had to go one tick higher. If the buyer didn't want to pay more, this transaction wouldn't happen at this higher price.

 

Yes, if a seller can't find a buyer at a higher price, he either lowers or doesn't sell.

 

I had trouble with this as well, especially the short selling aspect which I understood for stocks, since you borrow the stock from your broker, but with futures, I didn't understand. But the way it works for short selling is that you create the contract that you don't have. You pretend you have it, you sell it to someone, and if they think its a good price, they buy it. You of course think the price is too high so know you can buy it back at a lower price to close the contract.

 

It does get difficult to talk about buyers and sellers, as if one was more important than the other, because in reality, you have to have one of each for a transaction. So its more accurate to just say a transaction happened at this price, and then this price, and so on. But what we have to track is does the transaction happen at a higher price or lower price. We say buyers are in charge when price is going up, but there are just as many sellers as buyers, and we don't know if they are selling something they have, or short selling something they don't even own.

 

So in a way, we can talk about buyers or selling being in charge, but for fundamentals, all we can really say is that each transaction happened at a level where the buyer and seller both agree, and then we just track the subsequent transactions to see if buyers and sellers are agreeing at a higher price or a lower price.

 

Anyway, hopefully I"m not wrong about all of this, but its the way I see it now.

 

With regards to today. The first 30 minutes would it be fair to say that there was a decent amount of interest by buyers at these prices given the nature of the overlapping bars and how the buying waves cut pretty deep into the selling waves? In my head that is what I was thinking but also saying that overall supply is greater than the demand due to the lower highs and lower lows.

 

Also is the inability for traders to find a trade what creates the pressure. As in if a seller can't find a buyer at a higher price the pressure is for him to lower his price? I feel like I grasp that dynamic in the creation of a swing high but at a swing low it changes for me. At a swing high it's a seller unable to find a buyer but at a swing low is it a buyer unable to find a seller or is it that enough buyers stepped in to halt the selling? Thinking about it on one side of the coin as either just demand/lack of or just on the selling side it makes more sense to me. Seller can't find a buyer (lack of demand) price is lowered now buyers come in (demand) price rises. Flipping that on its head gets slightly confusing to me.

 

Another example is a downtrend. It's not necessarily a seller unable to find a buyer is it so they continue lowering their price? That way it makes it seem wording it that way is those that are selling are the ones losing out so to speak or taking less but in a downtrend money is made by selling. Or are short sellers in control (which they are) then what is the dynamic in that regard?

 

Trying to think more in terms of traders but for me to do that I need to have a better handle on the actual dynamic/mindset of the traders. Today thinking more in terms of supply/demand, buyers/sellers, buying pressure/selling pressure kept me out of a day that would not have been all that successful so I would like to get deeper into that mindset. Any comments are welcomed.

Edited May 20, 2014 by k p

[Wolfhound 10]

Tuesday 20th May 2014 NQ100 1 min chart review

 

Today for a long while we revolved around a mean of about 607 which was our overnight low. I tried a few trades which didn't work out, and I eventually noticed that a basic day of plotting the lines and using SLA would have worked out better today. Need to get the balance right. Overall I'm not unhappy with today. I didn't fire out trades like crazy, and stops were reasonable to keep the losses small. As always I will hopefully learn from it and try to improve tomorrow.

 

 

1. We opened at the lower end of our overnight range after a fall from a high of around 18 over the previous hour. This led me to expect a test of the lows, but instead we opened up to reject previous swing high and the 50% point at 14. I could short this, but I had decided to wait for a possible break of the overnight highs/lows and retracement. Generally would not take that trade, so I don't feel that I missed out.

 

2. We broke the overnight lows, but instead of a retracement and short, we have a reversal at the lows back into the range. I could have put a long on here for a possible run to the mean. This would have been stopped for more or less breakeven, since it turned so quickly at 613. Sometimes these trades work well .

 

3. The lower high is followed by a retracement. Again a short could be put on here. Maybe today I am a little hesitant. I will wait for the break below 607.

 

4. Here we have a break below 607 with a retracement that goes back above 607 but can't hold on. I put a short on here at 605.75. I am happy with the reasons for the entry, but the price returned to the entry point after a few minutes of not getting past the recent swing lows, so was exited for breakeven.

 

5. Another retracement for a short at 603. I left the stop at 604 this time since we had past the previous swing lows. Unfortunately stopped out after a 7 minutes. The supply line is also broken. The double or treble bottom could be a point of exit, or the break of the swing high. The overlap appears to be swallowing my trades today.

 

6. Here we had a retracement for a long after the supply line break. However it seemed to me that the trade was failing to go up and we may be having a DTDB. Obviously there is long somewhere around 605 at 10:11 (the 15:11 bar on my chart) but I didn't take it. I should focus on what I know and not think about trading the dogs until I know them better.

 

7. After a hinge around the mean of 607, I entered a long on a retracement from a breakout. This was stopped soon enough. An SLA trade could have been taken earlier.

Edited May 20, 2014 by Wolfhound

[eminiman414 10]

Was bored made an art project.

 

85 again . . .

Edited May 21, 2014 by DbPhoenix

[DbPhoenix 42]

Originally Posted by Niko »

Well, a new week and new goals, the goal of this week is simple, let go of my trades and focus on price action, forget about your P&L even if you cant see it doesn't mean you cant do the math in your head, so just don't.

 

Instead focus all your attention to read price action, to determine what traders are doing and thinking and trade accordingly, if you have problem with focus just draw a damn line and follow it, but don't get tangled on the line, but instead use it as a mean of focusing your attention to what is happening above or below the line.

 

Remember that detecting chop is not that hard, they are either gonna try up or down at the start, once they fail in one direction they are gonna try the other, if they fail in that as well you have an opening range, and an opening range is a RANGE so remember you don't trade inside ranges, you are not ready for that and the last two weeks proved that, so just don't.

 

Once they define where they want to go, join them and remember that some of them will make a couple of points and quit triggering a RET, that is not the moment to panic, but the moment to hold your guns, that is the market telling you if they want the movement or not so wait for the RET to resolve before acting, that will put you in a position to deal with any nonsense that you end up making if you do it, but if you can avoid doing stupidities, just do.

 

I just re-read my weekly objectives so I dont lose track of them, today my focus on PA will increase, I will try to keep my cool all the way to 11:00, just breathe and exhale .

 

Other thing I will avoid today is to trail the stop, it will remain wherever I place it and I will exit the trade with the close button, so as to retain control of the trade at all time.

 

My great call of the day was staying out, had I taken any trade it would have been scratched. The whole morning turned into a hinge that by the time of this post hasn't been broken. Perhaps the break will occur in the afternoon, but I wont be available by then, so good luck afternoon shift traders.

 

The SLA is not a perfect system, but one thing it does do if the trader lets it do its job is to force the trader to wait for the right setup rather than endure the enter SO enter SO enter SO enter SO whack-a-mole trap.

 

One can run the numbers and figure out the average and worst-case recoil after entry and how far one can expect price to move in one's favor before his entry is "safe" and so forth, but all of that flies out the window once one is in the trade, particularly with real money. Even worse, he can then review all of this in hindsight and begin the "if only I'd stayed in" business, after which it all begins to come apart.

 

Waiting for a retracement in a fast-moving market can be frustrating, but the savings in being forced to do so outweighs the alternative which is too often being pecked by ducks. And if one takes the first/best entry and gets stopped out, that in itself can be a clue as to how things are going to go. That we formed a hinge at 1018 or so provided the confirmation that we had been and were going to remain range-bound and that there was no longer any reason to trade, at least until all of that resolved itself.

 

It's understandable that one might feel as though the market owes him something for his having done all that prep. But an unacknowledged benefit to having done all that prep is that it strengthens his resolve to do nothing, whereas he might otherwise get sucked in to a cycle of small losses.and the resulting frustration, which is not conducive to clarity and focus.

[Niko 10]

It's understandable that one might feel as though the market owes him something for his having done all that prep. But an unacknowledged benefit to having done all that prep is that it strengthens his resolve to do nothing, whereas he might otherwise get sucked in to a cycle of small losses.and the resulting frustration, which is not conducive to clarity and focus.

 

I think yesterday was a very positive one for me, not because I did not lose money, but because I manage to keep my focus and acknowledge the environment that led me to the conclusion that trading that was a mistake.

 

For today, I will keep on pushing for my weekly objectives and avoid chop, if there is a trend day, just ride it.

[eminiman414 10]

Hmm. May sit back and watch how today unfolds. Now we are sitting in somewhat of a hinge btw about 11/10 and 02. If we break up I'll see what happens when price gets up into the 20s if it passes through 12/14. If we break below 02 a short can be taken and if we move below the area of 93-95 I'd expect to get to 85. If we hesitate there then continue or blow right through it then 70 would be next and so on. This whole area of prices is interesting and seems to be an area where price can turn just about anywhere. I am wondering if just waiting for 85 or 24 would be a better play overall carrying less risk. Sure maybe a 20 point move gets passed up but given where we are how likely is it to chop around. Not that this is part of how I might trade but as we get closer to the holiday weekend would that have anything to do with more sideways or choppy action? Obviously I will let the market dictate that but just curious.

 

I posted a 60 min yesterday with some levels of interest. The area btw 04 and 14 seems dicey so we will see what happens.

[Niko 10]

So yesterday we finally reached 24 and there the market run out of buyers then a quick fall that went a point shy of 83, then buyers pushed up to 04 (50%) before giving up and forming a hinge above 93.

 

At the time of the post buyers are attempting to a break to the upside but so far have been unable to get other buyers above 11. The last attempt of sellers failed at 601.

 

In case buyers rush in at the open they will have to absorb whatever traders want to throw at them around 14, if they don't have any trouble with that then 24 could be interesting as the top of the TR for the last few days, if we manage to break above 24 then 58 is the level to watch.

 

This could also be a failed attempt to go higher around the mean (04) and they could try lower. In that case they will have to deal with trapped sellers around 96, from there 83 and 65.

[Bern 10]

My view of the forest prior to RTH open:

[Niko 10]

3 minutes for the open and we are still within the 01-10 TR, mean 06.

[Wolfhound 10]

Wedensday 21st May 2014 NQ100 Market Preview

 

After the morning hinge yesterday we tested the highs at 624, and failed, falling to 584 before recovering some of the fall before the close.

 

Overnight we have settled close to the midpoint of the high and low of yesterdays action (604), and have no direction yet for the open. Overnight we have been heading up but have halted and made a lower high after reaching the congestion from yesterday.

 

Time to try and trade again, with the SLA to guide me.

[Niko 10]

Today at first seemed promising, but then after finding a great deal of selling above 24 buyers gave up.

 

1. The down stride from premarket was broken at the open and after a RET the way to go was up, so a long was taken, but as we reached 16 buying pressure was reduced the stride of the uptrend was broken and a LH (RET) prompted an exit...

 

2... And a entry in the opposite direction. But it was a Dog and was rapidly SCR, unfortunately I did not take the dog (Green circle) and missed the best move of the day.

 

I don't know that I would call this a Dog as price did drop by 2pts. By trading the SAR, you're anticipating the break of the SL which has formed by that time. Which is fine if you're confident enough to trade it. But waiting for a ret, or even a pause, after the SL break might be the preferred route at this point.

 

3. As prices moved higher rapidly I took this as a sign of strength and took the first RET after the Dog. But as we reached 24 buyers just gave up, it was a pretty fast move to the downside and I wanted to give the trade as much room as possible so I ended up closing at BE.

 

4. But just after I close price reversed and the trend from the open was still holding so I decided to take a reentry. But in this case buyers just gave up and I got trapped and SO.

 

5. So after failing to make a HH and given that we were at an important level I decided to take a short, but it was also SO.

 

Given that so far only 1 of 5 trades had yielded the expected results I realized the environment was not favorable and decided to stop for the day.

 

 

I kept on marking entries (circles and squares), but all of then would have meant a SCR.

 

Edit: I just attached the 20 tick chart I use to see the waves and the hourly chart where it can bee seen that a TC that formed premarket pointed to a top around yesterday´s high. (see hourly chart)

Edited May 21, 2014 by DbPhoenix

[Wolfhound 10]

Today the aim was to be calm, although I never aim to be stressed. We did test the previous highs of 624, but could not make a move past at the time of writing. We have stayed in a relatively tight area since we first tested 24 before 10am. I only marked 2 trades today, and I am pleased that I didn't try to drive down in the road to nowhere today.

 

 

1. Opened with a rejection of the midpoint at 604, followed by a supply line break and retracement. I guess I could go long around 609, but trying to give the price a bit of time to make its range today.

 

2. We made it easily through the overnight high, before turning when we got back into yesterday's congestion. We have a retracement for a potential long that I would not take today, because the bars are wide, and it is easy to be stopped out here.

 

3. This indescision should be sorted out soon. I have a feeling for up since we can't get back into our overnight range below 611. But we are still overlapping bars at this stage.

 

4. We have a retracement here for the first long after the early morning volatility. We have highs around 624 to watch for.

 

5. We turned at the highs breaking our demand line. By my SLA, I would put a short on the 15:01 bar, which was stopped out on the next bar. Time to sit and watch for something clearer. I could have waited for the demand line from the open to be broken, but I felt it was a valid trade off the tighter demand line, with a rejection of the highs, and would probably do the same again.

 

6. I'm looking at this and seeing traders getting into a very tight range. In real time its like everyone has gone to the bathroom at the same time. There should be a breakout when they get back. Wash your hands guys.

 

7. Back to test 24 again. Eventually we made it past and up to 27, only to turn back again. I am waiting for a breakout with retracement, but that may not happen at this time of day.

 

8. Back below 24. No direction apparent yet.

[eminiman414 10]

No trades today. I did not expect that to happen from the opening. I did mark trades that I considered. I mark them when I consider them and not in hindsight and I suppose since it's sim I could just take them and see but I am trying to make this as real as possible as in what I would have done if it were live.

 

Trade 1: Long. 04 held, traded above 07 SL from prev down move broke had a RET. Pretty straight forward. The reason for not trading it was we were still within the overnight range with the upper limit at 10.

 

Trade 2: Short. DL broke had a RET etc. Reason for not taking it was we were at the area of the mean of the TR and we had broken above 10. On the trip back down towards 10 the pace was slower and did not seem to have much of a push behind it. We were also above 50% of the previous up wave that caused the BO of the ON range.

 

Trade 3: Long. Something I have been sort of playing around with is if the short was taken and the wave fails anywhere above the 50% level of the prev wave a SAR can be done. It almost feels like a dog kinda trade but on a larger level if that makes sense. Like a dog wave. For this I've called it the wave break were the wave does not move past 50% and then the SL or DL breaks. The goal is to get into the next wave as close to the turning point as possible. That has been my goal with most trades and typically the first RET with a typical SLA entry does that. With this "wave break" entry it essentially is getting me into the next up wave of a larger move if that makes sense. With this entry price also held above the BO level. It would have been entered again at the mean so it wasn't take because of that. With this type of entry I would look to see if the prev swing breaks or gets rejected etc. I also would expect a RET at some point to happen after the entry and preferably after the swing breaks.

 

Trade 4: Long. Typical SLA entry. Break RET. Not taken as we are close to 24. On the flip side since given the nature of how price was moving it seemed that we were going to get to 24 so it could have been a quick 4+ point trade I guess.

 

Trade 5: Short. Considered it but was not too confident about it. If this trade took off it would have meant a quick vrev at 24 which I suppose could have happened but I have not seen too too many of those types of moves. The DL broke and that was the RET I saw. The caution was 50% of that second up wave was tested with no follow thru at the time. The bar that causes the RET makes a LH and given the longer term DL held as well my initial thinking was moving sideways. We moved a little lower with no real push through 50% and then we hinged.

 

Trade 6: Long. This one I was also a bit iffy on and I'll just come out and say it was because of the line placement. Reasons for the long is price held above 50% of the entire up move for the day thus far and it took longer to move 50% than the prev up move took to cover the range. The break from the hinge did not go very far. A shorter term SL broke and the longer term SL was poked. After we didn't make it to 50% we made a HL make by the RET. The idea was looking to test 24 again. Reasons for not taking it was thinking we may continue sideways if the mean of that small hinge holds or we don't accelerate through the longer term SL. Also in terms of thinking a bit about risk reward was if we do get to 24 and the exit is on a DL break how many points will we really collect with that trade?

[Niko 10]

I see you took the dog, good.

[eminiman414 10]

Nothing was officially entered just observed and marked as I pondered it. I have more review to do. Have a few things to take care of. Part of my plan was waiting for 24 yet I was completely inactive around that level.

[k p 10]

Nothing was officially entered just observed and marked as I pondered it. I have more review to do. Have a few things to take care of. Part of my plan was waiting for 24 yet I was completely inactive around that level.

 

I have to laugh here because I know this feeling all too well. When price reaches the level you are waiting for, you still don't know what to do! Ha! Not laughing at you of course, but at myself because this is clearly something I am working on.

[Bern 10]

Not really in tune with the market.

 

1. Long at the ret after the sl brek but it is inside the ov tr, so I hesitated. I was ready to exit-scratch if there was a rejection down at the upper boundary of the OV TR.

 

2. Exit of previous long: it is dubious. It is true that a tightly drawn dl would be broken, but I think that I should have hold it just below the upper boundary of the OV TR.

 

3. I still do not understand why I did not reenter long at 1st or 2nd yellow circle. I was not focused.

 

4. Short at ret after break of dl.

 

5. When it was not able to go south of prior SH and made a DB I entered long reversing the position. Market stayed there for an eternity showing indecision and this could be read as a hinge. At least a consolidation, indecision period. Maybe I gave it too much space till I exited at 6.

 

6. There is a not triggered short marked ( triangle down and NT). I was waiting for market clearly going below of previous SH. The fact of focusing-waiting for the short to trigger (and a certain bias instead of being open to any posibility) made me miss the posible entry long marked at the 3rd yellow circle

 

7. Long. Took it but not happy too enter so late in the wave and so close to HOD where some reaction from sellers could be expected. Exit with loss.

 

8. Long again. Since it did not go down and formed a micro DB I entered again but seller did not want this to succeed. I think that seeing the big volume that came there and the rejection of the new highs, I could have taken my exit for a scratch earlier.

 

End for the day.

[eminiman414 10]

It's not that I don't know what to do I just didn't do anything. I'll review it and post when I get home. I think I was lulled to sleep by my waiting and it became ugh dummy and right as I was finishing my first post we began to rev for 24. Don't know what has happened since but I'll be back in a bit.

[Niko 10]

Just finished my replay and found out that trading the dog (3) would have improved my results as It would have placed me in the trend much sooner giving me more wiggle room regarding trend stride break.

 

I have a note regarding trade number 6, it was a failure of sellers to find trades below the hinge and below 50% but it was a long against the apex of the hinge so I only took it because I had hindsight knowledge but I don't think I would attempt that in RT.

[eminiman414 10]

Questions I am asking myself now are the importance of AMT vs. SLA or which should be of more importance/when? Today even continuing through lunch straight SLA does pretty well even considering the range. Another is, if you are waiting for a price dictated by AMT once price gets there it is time to act. The question becomes should the time of day matter. Say we are waiting for 24 and we don't get there until 2pm or 3pm should we not be there when that happens? Yesterday close to lunch we rejected the same area and if we are trading using AMT should we have not entered a short somewhere along the ride down to 85 for a nice trade? I think if we are waiting for a price we need to be available when price gets there and use the SLA to trade around that extreme. Yesterday and today both presented opportunities to do so.

 

As an extension of my first chart here is what I may have done or may have been thinking moving more toward 11:30. These are marked in pure hindsight where the first chart was live in action. Continuing...

 

Trade 7: Short. This trade idea would not have been triggered can't say why or why not I would have taken it or not since I was not watching in RT but I'd say given the sharpness of the down wave, reversing from 24, and breaking the DL would be good reasons to take it.

 

Trade 8: Long. Also untriggered. Reasons for taking it would be SLA. Reasons against would be 50% of the downwave being tested and we are trading back towards 24.

 

Trade 9: Short. Dog. Can't make it to 24 and rejected 50% so I may have thought short especially with an untriggered long. Again this is hindsight off a static chart so I don't know the pace etc. I suppose I could have replayed it before checking back and knowing what happened. Big DUH on that one. Oh well.

 

Trade 10: Long. The SLA Long would have eventually been triggered. Same reasons against this trade as trade 8 that was untriggered. Since we made a LH and HL I may have been thinking sideways action at that point.

 

Trade 11: Short. It's what I call the "wave break" again. Similar to the earlier trades of 2 and 3. If the long was taken then 50% rejected and price not hitting 24 a potential SAR would have been in the works getting us into that next downwave. Again I still may have been thinking sideways but an even longer term DL would have been broken and the structure of the waves started to change. The selling wave from about 27 to 18 was probably the sharpest and fastest of the day and then the next buying wave makes it a little past half way, can't get back to 24 and takes maybe a minute or two longer then the selling wave.

 

Trade 12: Short. If trade 11 is not taken then we have the typical SLA short trading back towards the mean. We end up getting back to 11/10 at the top of the ON range after hesitating at the mean area of 12/14. Reasons for this trade is at that point there is a definite change in how price is moving and not many trades were found above 24. Getting in at trade 11 would have been ideal to give price more room but even so 14,12, and 10 would have to be watched closely.

 

A SLA long could have been taken off the bounce at 10 but I may have called it a day after those trades. We ended up moving back to 24 and we are now continuing higher at 35 now.

 

Will continue to think about what suits me better either waiting for a level then using SLA or using SLA straight out the gate intelligently while keeping AMT in the back of my mind.

Edited May 21, 2014 by eminiman414

[Niko 10]

I don't know that I would call this a Dog as price did drop by 2pts. By trading the SAR, you're anticipating the break of the SL which has formed by that time. Which is fine if you're confident enough to trade it. But waiting for a ret, or even a pause, after the SL break might be the preferred route at this point.

 

I will review the Dog appendix, because there must be something I missed. Thanks.

 

Developing a strategy for trading Dogs is difficult. It's the sort of thing that one must do in real time, without any notice, based on what price is doing at the time.

 

Here you have what amounts to a short that gets scratched. To SAR means going long before the SL is even broken (see chart below). Better to wait until your "3", even though you won't make the maximum number of points. Keep in mind that these are ranging, not trending, so if you're going to try to trade the range, try to enter at the limits, which in this case means taking "1" and staying with it if and for as long as possible.

 

Ok, thank you will add that to "things to watch for"

Edited May 22, 2014 by Niko

[Niko 10]

Re 7 & 8. You'll note that price did not fall in spite of the ret after the DL brk. This is a Dog. Therefore, you could have gone long at 98.5 off that little ret just below your "7".

 

I think I am getting it, so the fact that it did not make a LL was what made it a dog.

 

Partly. Notice how price bounces off the low of that bar, or interval. Reviewing and evaluating these things is extremely difficult with a static chart. But if you're watching it in real time, the suggestion that price doesn't want to go down is much easier to see.

 

Yes, I see that now, thanks.

Edited May 22, 2014 by Niko

[eminiman414 10]

I call a dog a dog moreso when there is no SLA entry otherwise as in this case it's just a sell wave that doesn't travel very far (although everything is a "wave"). That's just my take on it. A dog to me has almost a gotcha kind of feel to it. Again these are just my definitions.

[Niko 10]

After exiting the daily hinge traders finally decided that 644 was too expensive for now, (the top of the daily TC that formed once they exited the hinge. We are also above the 50% of the daily downmove from 740. So the context is overall strength but there is no momentum to the upside as we are away from the mean (that now is around 590).

 

Anyhow, buyers could give us a surprise and decide they really want to buy stocks for some reason and push above 645, but if my interpretation of a TC is correct AMT calls for buyers to give up and traders to look for equilibrium around the mean.

 

If sellers commit we could see a drop that could find buyers around 24, 14, and 600.

 

If buyers decide they want this so badly then we could see selling around 55 and 80.

 

Regarding the areas beyond which traders have not been able to find trades, the most immediate one is 40, and below us 33.

Edited May 22, 2014 by Niko

[Wolfhound 10]

We have moved above the highs of 24 yesterday and the next highs would be at 58 and 69. We have retraced over 70% of the fall that we had in March and April now which should keep buyers happy, and may suck in the hopeful herd, looking to join the party.

 

Overnight we made it as far as 45 before faling, and we are currently in a range between 34 and 40. Any support below will probably start to affect price when it gets near the previous highs of 24.