February 11, 2013
- in Uncategorized by schooloftrade
Crude Oil Anchor Chart Prep
 |
Crude Oil Anchor Chart Prep |
This morning
we are looking for 2 trading opportunities around the PLOD using our InsideOut
Set-up and our Wave Set-Up. With price-action
trading at the lows of Friday’s range we are anxious to see where the buyers
and sellers will agree on this.
we are looking for 2 trading opportunities around the PLOD using our InsideOut
Set-up and our Wave Set-Up. With price-action
trading at the lows of Friday’s range we are anxious to see where the buyers
and sellers will agree on this.
If we make
new lower-lows below the PLOD at 95.04 (from last week) we will then sell short
using the Wave Set-Up short. Our profit-target
for the short is the “Midas-Target” or the 94.27 major support below
us.
new lower-lows below the PLOD at 95.04 (from last week) we will then sell short
using the Wave Set-Up short. Our profit-target
for the short is the “Midas-Target” or the 94.27 major support below
us.
If the
sellers cannot push and hold price-action lower than 95.27 we will use the InsideOut
Set-up to buy long and take profit-target at the “Midas-Target” and
the PHOD at 96.57 for the runner.
sellers cannot push and hold price-action lower than 95.27 we will use the InsideOut
Set-up to buy long and take profit-target at the “Midas-Target” and
the PHOD at 96.57 for the runner.
We can see major
symmetry support on this anchor chart at 94.85 which now also becomes support we
need to wait to be broken before we get short.
Now we will wait to get short below the 94.85 support.
symmetry support on this anchor chart at 94.85 which now also becomes support we
need to wait to be broken before we get short.
Now we will wait to get short below the 94.85 support.
We dig in
deeper and we can see the bearish price-channel which also created a bearish price-wedge,
telling us the high-percentage-trades will occur selling short at the resistance
at the highs of this price-wedge and price-channel.
deeper and we can see the bearish price-channel which also created a bearish price-wedge,
telling us the high-percentage-trades will occur selling short at the resistance
at the highs of this price-wedge and price-channel.
Our day
trading plan for Crude Oil futures is to sell short with the Wave Set-Up below
the 94.85, and to buy long if the support at the lows of the range from Friday hold. We are buying above the PLOD 95.27 and using
the “Midas-Target” and the PHOD as the final profit-target.
trading plan for Crude Oil futures is to sell short with the Wave Set-Up below
the 94.85, and to buy long if the support at the lows of the range from Friday hold. We are buying above the PLOD 95.27 and using
the “Midas-Target” and the PHOD as the final profit-target.
