July 9, 2013
- in Uncategorized by schooloftrade
Crude Oil Price Reversal using Price Wedge, Flag, Triangle or Pennant Pa…
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This morning we found Crude
Oil Futures trading in a sideways-trading-range and we used this specific market-personality
to plan our trades before they happened today.
In today’s video you will see what we used to formulate our day trading
plan and how we profited from trading our plan today.
Oil Futures trading in a sideways-trading-range and we used this specific market-personality
to plan our trades before they happened today.
In today’s video you will see what we used to formulate our day trading
plan and how we profited from trading our plan today.
The first thing we did this morning was
look at our Anchor Chart; in this case we used a 60-minute chart of Crude Oil. The sideways-trading-range was very easy to
see on the 60-minute chart so we planned our trades to
buy-the-lows at support and sell-the-highs at resistance.
look at our Anchor Chart; in this case we used a 60-minute chart of Crude Oil. The sideways-trading-range was very easy to
see on the 60-minute chart so we planned our trades to
buy-the-lows at support and sell-the-highs at resistance.
Once we found the sideways-trading-range
on the anchor chart, then we used our Entry Chart to look for the EXACT location to look for the price-reversal
and the trading opportunity. We didn’t have
to wait for long, we quickly found a price wedge on our entry chart and we
planned to buy the lows of the price wedge, taking a profit-target at the highs
of the price
wedge.
on the anchor chart, then we used our Entry Chart to look for the EXACT location to look for the price-reversal
and the trading opportunity. We didn’t have
to wait for long, we quickly found a price wedge on our entry chart and we
planned to buy the lows of the price wedge, taking a profit-target at the highs
of the price
wedge.
The final step in this process today
was to execute the order. We used a very simple, yet
proprietary entry
trigger indicator to know exactly WHEN to enter the trade, and even
more important, when NOT to enter the trade.
Half the battle for us each day is to filter out which trades to take,
and which to avoid, and our methodology does that very well.
was to execute the order. We used a very simple, yet
proprietary entry
trigger indicator to know exactly WHEN to enter the trade, and even
more important, when NOT to enter the trade.
Half the battle for us each day is to filter out which trades to take,
and which to avoid, and our methodology does that very well.
Are you ready to take your career to
the next level? Our free trial is an easy way
to learn about our trading style, our educational program, and everyone that
registers for our free trial is invited to attend our Live Trade Room and trade
alongside our head traders.
the next level? Our free trial is an easy way
to learn about our trading style, our educational program, and everyone that
registers for our free trial is invited to attend our Live Trade Room and trade
alongside our head traders.
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