March 1, 2013
- in Uncategorized by schooloftrade
Crude Oil Anchor Chart Prep
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Crude Oil Anchor Chart Prep |
We have Crude
Oil moving lower this morning below the lows from Thursday and this tells us we
have a Wave Set-Up short or if the sellers fail we will use the InsideOut
Set-up to get long.
Oil moving lower this morning below the lows from Thursday and this tells us we
have a Wave Set-Up short or if the sellers fail we will use the InsideOut
Set-up to get long.
We can see
on both the anchor and entry chart timeframes that we have symmetry support. We can also see a double-top on the anchor
chart, however, the support that it gives us has already been broken and
therefor this set-up is disqualified.
on both the anchor and entry chart timeframes that we have symmetry support. We can also see a double-top on the anchor
chart, however, the support that it gives us has already been broken and
therefor this set-up is disqualified.
The anchor
chart and entry both show us a very easy bearish price-channel, which we will
use to determine the direction of the high-percentage-trades this morning. The high-percentage-trades will occur selling
at the highs of the price-channel.
chart and entry both show us a very easy bearish price-channel, which we will
use to determine the direction of the high-percentage-trades this morning. The high-percentage-trades will occur selling
at the highs of the price-channel.
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Crude Oil Entry Chart Prep |
Our day
trading plan for Crude Oil is to sell short using the Wave Set-Up and price-channel
resistance along with the directional bias from our anchor chart. If the sellers fail to move lower we can look
for the InsideOut Set-up to get long above the PLOD and use the PHOD 93.13 as
the final profit-target.
trading plan for Crude Oil is to sell short using the Wave Set-Up and price-channel
resistance along with the directional bias from our anchor chart. If the sellers fail to move lower we can look
for the InsideOut Set-up to get long above the PLOD and use the PHOD 93.13 as
the final profit-target.
