May 7, 2013
- in Uncategorized by schooloftrade
830am Day Trading Morning Prep Up-Date
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| Crude Oil 60-Minute |
Crude Oil Futures:
We can see 2-way trading this morning on all of our chart
timeframes from daily all the way down to the 5-minute VIP. The most important clue we see is the
60-Minute anchor chart gives us both buy and sell-zones so we know that a price-reversal
at the sell zone will lead to a short trade, and a price-reversal at the buy
will lead to a long trade. We are
working with a sideways-trading-range this morning so we need to be ready to buy-the-lows
at support and sell-the-high at resistance.
timeframes from daily all the way down to the 5-minute VIP. The most important clue we see is the
60-Minute anchor chart gives us both buy and sell-zones so we know that a price-reversal
at the sell zone will lead to a short trade, and a price-reversal at the buy
will lead to a long trade. We are
working with a sideways-trading-range this morning so we need to be ready to buy-the-lows
at support and sell-the-high at resistance.
 |
| Euro 60-Minute |
Euro Futures:
We can see the euro trading lower off the highs of the price-wedge
after testing the sell-zone at 3129. We
got an easy entry signal short with the 5-Minute candle closing below the 3129
and we are selling short down to the next buy-zone at 3096. We are trailing stop-loss using our trigger-zone
Fibonacci tool, and we will stay in this trade short through all minor retracements.
after testing the sell-zone at 3129. We
got an easy entry signal short with the 5-Minute candle closing below the 3129
and we are selling short down to the next buy-zone at 3096. We are trailing stop-loss using our trigger-zone
Fibonacci tool, and we will stay in this trade short through all minor retracements.
