Etoimene, I took a look at Crude Oil, as I got an alert on it just today. 60.38 is what I have as the number we need to open under in order to break to the downside and become resistance.
Thanks! I don't know the methodology you use to get to this number. I was trying using reversals intraday, since markets often bounce from them with amazing precision. Those that I choose were not right (obviously). 5920 - 5940 is the next cluster. There is no guarantee that it will hold, after that 58xx is very congested.
You're right, the 58.07 number is what I have as the exit point. The numbers I choose and they way they're chosen is a pretty long and complex process...I basically look at historical OHLC points and use them instead of HLs to determine supply and demand levels, then set alerts based on gaps and such...
As an aside, I closed the REGN calls for 20% from the 313.10 number...weeklys are nerve wracking. Blink and you're up or down 10%. I also caught the TSLA low today for this bounce but closed too early because I dumped half my account in them. Entered the calls at 4.30, closed at 4.45...they are now trading at 8 dollars apiece...If only I could have held them 5 minutes longer...