February 6, 2013
- in Uncategorized by schooloftrade
Crude Oil Anchor Chart Prep
| Crude Oil Anchor Chart Prep |
The first
thing we notice is the new lower-lows, trading outside of the range from Tuesday. This tells us to look for the Wave Set-Up and
possibly the InsideOut Set-up if the sellers fail.
thing we notice is the new lower-lows, trading outside of the range from Tuesday. This tells us to look for the Wave Set-Up and
possibly the InsideOut Set-up if the sellers fail.
We can see
symmetry support below us at 94.80 which will act like a price magnet as well
as a spot for price-reversal and a long position in the market.
symmetry support below us at 94.80 which will act like a price magnet as well
as a spot for price-reversal and a long position in the market.
There is a
bear price-channel on this anchor chart which will provide support and tell us
the high-percentage-trades will be selling at resistance.
bear price-channel on this anchor chart which will provide support and tell us
the high-percentage-trades will be selling at resistance.
Our day
trading plan for Crude Oil is to wait for the entry trigger when price retraces
off these lows and puts us in a position for a high-percentage-trade short. Furthermore, if the price moves back above the
lows from Tuesday we will buy long, taking profit-target at the highs from Tuesday.
trading plan for Crude Oil is to wait for the entry trigger when price retraces
off these lows and puts us in a position for a high-percentage-trade short. Furthermore, if the price moves back above the
lows from Tuesday we will buy long, taking profit-target at the highs from Tuesday.
