November 26, 2012
- in Uncategorized by schooloftrade
10:30am EST Market personality Up-date:
Every 30
minutes we need to try and identify specific market personality clues. Every morning at 1030am EST we know that most
often the news has already been released, and the big money in the marketplace
has most likely already begun participating with the retail and
speculators. This is when we need to ask
ourselves…where has price been? Where is
price now? Where is price likely to go
next?
minutes we need to try and identify specific market personality clues. Every morning at 1030am EST we know that most
often the news has already been released, and the big money in the marketplace
has most likely already begun participating with the retail and
speculators. This is when we need to ask
ourselves…where has price been? Where is
price now? Where is price likely to go
next?
Where has price been today?
Crude Oil has
been trading off the highs of the price-wedge, moving lower, and we have sold
short twice this morning with new lower-lows.
Now we find ourselves in the middle of this trading range and we know
that NOW is NOT the time to be forcing low percentage trades. We cant fiddle with the middle.
been trading off the highs of the price-wedge, moving lower, and we have sold
short twice this morning with new lower-lows.
Now we find ourselves in the middle of this trading range and we know
that NOW is NOT the time to be forcing low percentage trades. We cant fiddle with the middle.
Where do we
think Crude Oil will go in the future?
We came off the highs; we now sit in the middle. Historically we should keep falling to the
lows. If we cannot drop to new lower-lows
we then must assume that the sellers are not here, and if we see the buyers
pick up the price they can move it back up to the highs.
think Crude Oil will go in the future?
We came off the highs; we now sit in the middle. Historically we should keep falling to the
lows. If we cannot drop to new lower-lows
we then must assume that the sellers are not here, and if we see the buyers
pick up the price they can move it back up to the highs.
Right now if
you’re a Crude Oil trader you are selling short with new lower-lows and if we
sit sideways we sit-on-hands. If price
starts to rise higher we can buy pullbacks however the high-percentage-trades will
be to wait and sell short back at the highs once again.
you’re a Crude Oil trader you are selling short with new lower-lows and if we
sit sideways we sit-on-hands. If price
starts to rise higher we can buy pullbacks however the high-percentage-trades will
be to wait and sell short back at the highs once again.
=====================
Mini-Russell
futures have been doing much of the same, without the drop as of 1030am EST today. The Mini-Russell has been trading almost
lifeless at the PHOD and in the middle of a short term bull price-channel.
futures have been doing much of the same, without the drop as of 1030am EST today. The Mini-Russell has been trading almost
lifeless at the PHOD and in the middle of a short term bull price-channel.
We start at
the PHOD and we haven’t done very much which leads us to believe the market
personality may be waiting for something.
the PHOD and we haven’t done very much which leads us to believe the market
personality may be waiting for something.
If price
rises higher I’m selling the highs as resistance of the price-wedge and the sideways-trading-range.
rises higher I’m selling the highs as resistance of the price-wedge and the sideways-trading-range.
If price
moves lower I’m buying the lows of the price-wedge and the sideways-trading-range.
moves lower I’m buying the lows of the price-wedge and the sideways-trading-range.
The Mini-Russell
gives us a big challenge in that we have to stay patient. We cannot force this price-action to move so we
wait.
gives us a big challenge in that we have to stay patient. We cannot force this price-action to move so we
wait.
