November 26, 2012
- in Uncategorized by schooloftrade
Crude Oil Anchor Chart Prep:
Post-Holiday Morning Routine:
The first
thing we do on a Monday after a holiday break is get right back into the
routine using our Morning Routine in the Advanced Course and focusing on
getting back into the swing of my week.
Very soon the wind in our faces will turn into the wind at our backs.
thing we do on a Monday after a holiday break is get right back into the
routine using our Morning Routine in the Advanced Course and focusing on
getting back into the swing of my week.
Very soon the wind in our faces will turn into the wind at our backs.
Crude Oil Anchor Chart Prep:
We can see
the major bearish price-channel and the short term price-wedge. We have a double-top which has provided support
and a sideways-trading-range which we are in the middle.
the major bearish price-channel and the short term price-wedge. We have a double-top which has provided support
and a sideways-trading-range which we are in the middle.
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| Crude Oil Anchor Chart Prep: |
Our day
trading strategy for Crude Oil this morning is to be patient with this being
the first day back after a holiday break.
We also want to sell-the-high at resistance and buy-the-lows at support.
If price
moves higher I’m buying pullbacks with new higher-highs and using the resistance
overhead as the profit-target. I will
then look to sell the highs of the bear price-channel as the high-percentage-trades
of the morning. If price moves higher we
can buy it on the way up, however, the high percentage trades will be to sell
the highs around the price-channel highs and the trigger-zone resistance at
89.15.
moves higher I’m buying pullbacks with new higher-highs and using the resistance
overhead as the profit-target. I will
then look to sell the highs of the bear price-channel as the high-percentage-trades
of the morning. If price moves higher we
can buy it on the way up, however, the high percentage trades will be to sell
the highs around the price-channel highs and the trigger-zone resistance at
89.15.
 |
| Crude Oil Anchor Chart Prep: |
If price
trades sideways I need to sit-on-hands because we’re right on top of the PHOD. We need to wait for the new higher-highs or lower-lows
in the price-action to convince us that the buyers or sellers are trying to
make something happen.
trades sideways I need to sit-on-hands because we’re right on top of the PHOD. We need to wait for the new higher-highs or lower-lows
in the price-action to convince us that the buyers or sellers are trying to
make something happen.
 |
| Crude Oil Anchor Chart Prep: |
If price
moves lower we will have failed above the PHOD signaling the buying has failed
and we want to sell short with a wave-pattern-short. Below the PHOD the buyers failed and now the
sellers will take control and we are selling short all the way down to the major
support below us, including the final profit-target at the PLOD. Once we find ourselves at the lows of the
range around the PLOD we will look to buy the lows of the price-wedge.
