December 11, 2012
- in Uncategorized by schooloftrade
Crude Oil day trading plan
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| Crude Oil day trading plan |
We can see price-action
is trading in a wide sideways-trading-range after making new lower-lows this
morning below the price-wedge at 86.00 big-round-number.
is trading in a wide sideways-trading-range after making new lower-lows this
morning below the price-wedge at 86.00 big-round-number.
We are
trading inside-day which means we are above the PLOD and below the PHOD and
this tells us this range-bound market we want to sell-the-high at resistance and
buy-the-lows at support.
trading inside-day which means we are above the PLOD and below the PHOD and
this tells us this range-bound market we want to sell-the-high at resistance and
buy-the-lows at support.
We have to
notice that we’re at the lows of the bullish price-channel and the bullish price-wedge
(triangle) which tells us that if price moves to the LOWS of this range around
the PLOD we will have the high-percentage-trades buying at the lows.
notice that we’re at the lows of the bullish price-channel and the bullish price-wedge
(triangle) which tells us that if price moves to the LOWS of this range around
the PLOD we will have the high-percentage-trades buying at the lows.
The bullish price-channel
and the bullish price-wedge tell us the high-percentage-trades are buying the
lows.
and the bullish price-wedge tell us the high-percentage-trades are buying the
lows.
If price
moves higher today we will sell short at the PHOD and 86.92 as resistance first,
and then if we get new higher-highs and strong buyers we will buy pullbacks above
that resistance with a profit-target of 87.20, 87.65, 87.80, and 88.40. The key to getting long above the PHOD will
be the fake-out-breakout. Will the
buyers be strong enough to make new higher-highs and KEEP THEM there?
moves higher today we will sell short at the PHOD and 86.92 as resistance first,
and then if we get new higher-highs and strong buyers we will buy pullbacks above
that resistance with a profit-target of 87.20, 87.65, 87.80, and 88.40. The key to getting long above the PHOD will
be the fake-out-breakout. Will the
buyers be strong enough to make new higher-highs and KEEP THEM there?
If price
action falls lower this morning we want to buy the lows of the range and the price-wedge
as the high-percentage-trades. We are
buying 85.33 at the PLOD and the 84.98 support below it. We won’t have any room to sell short below
the PLOD, so we will wait for the support at 84.98 to buy, and then with new lower-lows
and strong sellers we will sell short below it down to a target at 84.50.
action falls lower this morning we want to buy the lows of the range and the price-wedge
as the high-percentage-trades. We are
buying 85.33 at the PLOD and the 84.98 support below it. We won’t have any room to sell short below
the PLOD, so we will wait for the support at 84.98 to buy, and then with new lower-lows
and strong sellers we will sell short below it down to a target at 84.50.
