Crude Oil Anchor Chart Prep

Crude Oil futures
moving higher this morning and we can see the InsideOut Set-up giving us
opportunity to sell short at the PLOD from last week 94.22.  We look for the buyers to fail so we can sell
short with a profit-target in the range from Friday down at 93.48 and the PLOD at
92.44. 

We can also
see the double-top structure that came into play just recently this morning on
the entry chart, and we will use these levels of support as key areas to avoid
for the short sellers (see above) and opportunities to get short below the
levels of support, specifically looking to enter short below the 94.00 and then
take profit at the support levels below us.

We can see
the anchor chart provides us with a long term and very wide bearish price-channel,
along with a short term and narrow bullish price-channel.  The long term trend is not as important to
day traders as the short term trend, so while we know the market personality is
going lower, we will still use the short term bullish price-channel as our
biggest clue when making decisions today. 
Most likely, we will use the price-channel lows as a location to take a profit-target
if we can get short on InsideOut Set-up and also for a buying opportunity to buy-the-lows
at support of the price-channel.

Our day
trading plan for the Crude Oil Futures is to sell short below the 94.00 support
level in a combination trade using the InsideOut Set-up short, and then waiting
for the double-top support to fail and give us a chance to trade short as the price-action
collapses.  We can see on the anchor
chart that we have missed the big move higher from late last week, and we
should be ready for a pullback on the anchor chart which will result in a price-reversal
on the entry chart for us to trade short today.