the bounce now. It's trying, looks like we may have run out of sellers or bottom pickers who have close stops. The 60 minute chart is hinting at a possible reversal getting started. The Opening 60 minute bar had a 73.87 low and an inside bar for the 2nd hour. The 3rd 60 min bar was an outside bar that failed to get another round of down momentum going when it broke the 1st hour bar low of 73.87 but found quick support for that 60 min bar @ 73.82. That was my clue I was looking for when the 3rd 60 minute bar had a high of 75.00 and closed @ 74.87. I had a Setup in Place for my fishing lines.

North Lines were quickly thrown out @ 75.02 and I didn't have to wait very long to throw on my 74.65 Damage Control. I anticipated(expected) the north lines would ring the bell, so I had my 1st deposit order in @ 75.32 as soon as I got my lines in place. One of those Screamer Setups that I don't waste any time waiting for what might happen. A Screamer Setup is the markets handwriting on the wall giving clues for what is going to happen next. Next deposit order sitting @ 75.70 and Damage Control is pulled up to 74.77. If I don't get a 60 minute close above 75.32 I have to take what I can get that moment. A 60 minute close above 75.32 is a 60 min buy signal that will open the door for a test of 76.20 bounce resistance.

A 60 min buy signal is the first thing I need to open the door to begin a $4 bounce back up to old broken support @ 77.50-78.00. At this point I have no buy signal trigger until there is a daily close above 78.15. That may be all of the profit taking bounce we get. If a buy signal is triggered, it has a menu target @ 81.00-82.00. It's best not to even consider higher potential targets that have no chance of happening until I get a buy signal close above 78.15. At the moment I'm still focused on the first needed signal of that 75.32 60 min close. If I don't get that, all of the other thoughts are just typical HALLUCINATIONS.