March 5, 2013
- in Uncategorized by schooloftrade
Crude Oil Anchor Chart Prep
Crude Oil Anchor Chart Prep |
The anchor
chart on Crude Oil shows us a massive price-wedge which we will hope to test
the lows later this week for a buying opportunity at the lows. We can also see the bear price-channel along
with the symmetry and Fibonacci support at 89.45 has caused a bounce in
price-action. This bounce off the
symmetry support is perfect for us now to look to sell this retracement using
our entry timeframe and the proper entry signal short.
chart on Crude Oil shows us a massive price-wedge which we will hope to test
the lows later this week for a buying opportunity at the lows. We can also see the bear price-channel along
with the symmetry and Fibonacci support at 89.45 has caused a bounce in
price-action. This bounce off the
symmetry support is perfect for us now to look to sell this retracement using
our entry timeframe and the proper entry signal short.
The entry
chart on Crude Oil shows us a potential selling opportunity using the InsideOut
Set-up at the PHOD of 90.87. We want to
see the buyers try and FAIL above this 90.87 and then we will look to get short
with our proper entry signal.
chart on Crude Oil shows us a potential selling opportunity using the InsideOut
Set-up at the PHOD of 90.87. We want to
see the buyers try and FAIL above this 90.87 and then we will look to get short
with our proper entry signal.
In addition
to the InsideOut Set-up short, we also want to be prepared for the buyers being
in control and the price-action being bullish.
If the price keeps rising higher we will use the market personality
combined with our proper entry trigger to get long using the HOD from FRIDAY at
91.92 as our profit-target on the long trades.
to the InsideOut Set-up short, we also want to be prepared for the buyers being
in control and the price-action being bullish.
If the price keeps rising higher we will use the market personality
combined with our proper entry trigger to get long using the HOD from FRIDAY at
91.92 as our profit-target on the long trades.
 |
Crude Oil Anchor Chart Prep |
We dig in
further on the entry chart and we can see the previous bear price-channel has
been broken by new higher-highs and we are wondering if these have what it
takes to keep these prices moving higher?
If the buyers are strong we will buy using the proper entry trigger and
use the resistance levels overhead as our profit-target. If the buyers fail we know the bear
price-channel is a price-magnet and will definitely drag this price-action back
lower and then we can only assume the sellers will attempt to test the PLOD at
89.35 and soon the lows of the bear price-channel.
further on the entry chart and we can see the previous bear price-channel has
been broken by new higher-highs and we are wondering if these have what it
takes to keep these prices moving higher?
If the buyers are strong we will buy using the proper entry trigger and
use the resistance levels overhead as our profit-target. If the buyers fail we know the bear
price-channel is a price-magnet and will definitely drag this price-action back
lower and then we can only assume the sellers will attempt to test the PLOD at
89.35 and soon the lows of the bear price-channel.
Our day
trading plan for Crude Oil says to sell short using the anchor chart
directional-bias as the high-percentage-trades today. We want to sell short when we enter into the
trigger-zone resistance area at 91.30 for the best selling opportunity. We can easily see on our entry chart that we
are going to be in a perfect location to sell short in the area of 91.30 up to
91.50 using both the anchor chart and the entry chart resistance as our clue.
trading plan for Crude Oil says to sell short using the anchor chart
directional-bias as the high-percentage-trades today. We want to sell short when we enter into the
trigger-zone resistance area at 91.30 for the best selling opportunity. We can easily see on our entry chart that we
are going to be in a perfect location to sell short in the area of 91.30 up to
91.50 using both the anchor chart and the entry chart resistance as our clue.
