January 21, 2016
- in Uncategorized by schooloftrade
Price Action Trading The Channel On Crude Oil Futures; SchoolOfTrade.com
Buying the channel and range lows this morning gave us a solid move higher for 120 ticks!
In today’s video we see the Crude Oil forming a rising support area right near the range lows where buyers are likely to come back in.
This gave us an opportunity to buy the buyer rejection off the lows back up for a run to the highs and $1,200 in profit!
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Price Action Trading is all about knowing the day type and knowing how to trade it at the right place at the right time. Sometimes, after large moving days like we had yesterday, you end up seeing the next day go sideways and stay that way for a good amount of the day. This is the exact scenario we have on Crude Oil and that means we need to look to buy low and sell high assuming more of a range sentiment.
Price Action Trading is all about knowing the day type and knowing how to trade it at the right place at the right time. Sometimes, after large moving days like we had yesterday, you end up seeing the next day go sideways and stay that way for a good amount of the day. This is the exact scenario we have on Crude Oil and that means we need to look to buy low and sell high assuming more of a range sentiment.
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