Below is a monthly $CC_f chart showing the 2009 lows.
The level is $2198. Price closed Friday at $2251 which is 53 ticks between the two. We'll have to zoom into shorter time frames to see if it makes sense to short here for 53 ticks, wait on the side lines for a buy at or closer to that $2198 level, or buy it here.... Or, none of the above.
Let's look at the weekly..
Last but not least let's take a gander at the daily before we make the final decision.
That was sweet ass short! It took patience to do it right, it always does. I wish I had caught that! But there will be opportunities in this contract and many others, there always is.
The daily chart also tells us that there's a good chance that price will go to that $2198 level, and here's how:
Technical Analysis is the shit. If you get a handle on this art you can pull up any chart of anything and make money for yourself. It's not easy to get the necessary confidence needed to effectively use it but it's worth the hard work..
Until next time, good luck traders, and happy hunting!!