January 28, 2013
- in Uncategorized by schooloftrade
Crude Oil Anchor Chart Prep
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| Crude Oil Anchor Chart Prep |
We can see Crude
Oil has traded above the PHOD so we have 2 trading opportunities around the
corner. First we have an InsideOut
Set-up if price moves back below the PHOD.
Second, if we get new higher-highs we will have a Wave Set-Up buying pullbacks
on the way to the highs from last week @ 96.92.
Oil has traded above the PHOD so we have 2 trading opportunities around the
corner. First we have an InsideOut
Set-up if price moves back below the PHOD.
Second, if we get new higher-highs we will have a Wave Set-Up buying pullbacks
on the way to the highs from last week @ 96.92.
We can see 2
levels of symmetry resistance overhead using both the long term and short term
swings on this anchor chart. First we
have resistance at 96.60 which we can see has been tested, and buyers are trying
to hold price above it at this time. We will
sell short if the buyers fail. The
second level of resistance is up at 97.15 and this will be the final profit-target
for a long position above the 96.60.
levels of symmetry resistance overhead using both the long term and short term
swings on this anchor chart. First we
have resistance at 96.60 which we can see has been tested, and buyers are trying
to hold price above it at this time. We will
sell short if the buyers fail. The
second level of resistance is up at 97.15 and this will be the final profit-target
for a long position above the 96.60.
We can see
the 2 bullish price-channels and we can see we are testing the highs of the
short term bullish price-channel.
the 2 bullish price-channels and we can see we are testing the highs of the
short term bullish price-channel.
Our day
trading plan for Crude Oil this morning is to sell below the PHOD using the InsideOut
Set-up and buying pullbacks above the PHOD using the Wave Set-Up. We will use symmetry overhead as resistance for
a profit-target on the long trades and we will use the price-channel lows and
the PLOD as targets for the short trades.
trading plan for Crude Oil this morning is to sell below the PHOD using the InsideOut
Set-up and buying pullbacks above the PHOD using the Wave Set-Up. We will use symmetry overhead as resistance for
a profit-target on the long trades and we will use the price-channel lows and
the PLOD as targets for the short trades.
