November 8, 2012
- in Uncategorized by schooloftrade
Crude Oil Anchor Chart Prep:
 |
| Crude Oil Anchor Chart |
We can see
the bearish price-channel, the bearish price-wedge and a sideways trading
range. We can see the double-top provides
support below us, and the trigger-zone provides resistance above us.
the bearish price-channel, the bearish price-wedge and a sideways trading
range. We can see the double-top provides
support below us, and the trigger-zone provides resistance above us.
Our day
trading strategy today will be use the price-wedge. We are trading at the lows of the price-wedge,
so we’re looking to be a buyer as price rises up off these lows. Profit-target for the buyers will be 86.60,
and then the highs of the price-wedge around 88.00. This price-structure inside day, inside a price-wedge
tells us we are range-bound market so sell-the-high at resistance and buy-the-lows
at support.
trading strategy today will be use the price-wedge. We are trading at the lows of the price-wedge,
so we’re looking to be a buyer as price rises up off these lows. Profit-target for the buyers will be 86.60,
and then the highs of the price-wedge around 88.00. This price-structure inside day, inside a price-wedge
tells us we are range-bound market so sell-the-high at resistance and buy-the-lows
at support.
