Thanks to one of our room members we now have vertical markets on the Mega Bars. These markers tell us when a 30 minute bar has completed. As a member of the Oil Trading Room, you know the importance of these 30 minute times as these are often key points on charts as is often discussed in the room chat throughout the trading day.
It is not uncommon to see reversals at or about these points. Visit us in the room for more on this and other topics having to do with market structure. These concepts can be applied to any market but Crude Oil is exceptional due to the average range of these bars.
I noticed on first glance of these new markers that the spacing of the markets could be a valuable tool. This is true because it marks a unique relationship between order flow, range and time. It may be possible the wider time intervals are indicative of consolidation. I will be keeping an eye on this pattern. Can you come up with any? If so be sure to share your thoughts and insights in the room!
Thanks again to Ned for making this possible for everyone in the Oil Trading Room.
That's all for now!