March 6, 2013
- in Uncategorized by schooloftrade
Crude Oil Chart Prep
 |
Crude Oil Chart Prep |
We can see
the anchor chart showing us the sideways-trading-range along with symmetry support
and trading towards the lows of the price-wedge. We can see there is room to keep going lower
before we test the price-wedge lows, and with the bearish tone to this anchor
chart (red shading) we know that selling short will be where the high-percentage-trades
occur today until we bounce off the lows of the price-wedge.
the anchor chart showing us the sideways-trading-range along with symmetry support
and trading towards the lows of the price-wedge. We can see there is room to keep going lower
before we test the price-wedge lows, and with the bearish tone to this anchor
chart (red shading) we know that selling short will be where the high-percentage-trades
occur today until we bounce off the lows of the price-wedge.
The entry
chart timeframe shows us a bullish price-channel which has been broken with new
higher-highs and at the same time we see a short entry has triggered using the Max
Entry and the InsideOut Set-up to get short.
Our final profit-target is now the PLOD at 90.05. if we can get lower-lows below 90.05 we can
see the PLOD from Tuesday at 89.33 which is another profit-target as a runner.
chart timeframe shows us a bullish price-channel which has been broken with new
higher-highs and at the same time we see a short entry has triggered using the Max
Entry and the InsideOut Set-up to get short.
Our final profit-target is now the PLOD at 90.05. if we can get lower-lows below 90.05 we can
see the PLOD from Tuesday at 89.33 which is another profit-target as a runner.
Our day
trading plan for Crude Oil this morning uses 3 scenarios. First, if price moves lower we will sell
short using our Wave Entry-Trigger and a profit-target at the PLOD 90.05. if price-action keeps moving lower below this
profit-target we can also then look to re-enter or hold the position down to the
next major support which is 89.33 and the PLOD from yesterday.
trading plan for Crude Oil this morning uses 3 scenarios. First, if price moves lower we will sell
short using our Wave Entry-Trigger and a profit-target at the PLOD 90.05. if price-action keeps moving lower below this
profit-target we can also then look to re-enter or hold the position down to the
next major support which is 89.33 and the PLOD from yesterday.
Crude Oil Entry Chart Prep |
Second scenario
is that price-action may trade sideways ahead of the Crude Oil inventories news
at 1030am EST and if we sit in the middle of the range around 90.40 area we
need to sit-on-hands and wait for price-action to move higher or lower.
is that price-action may trade sideways ahead of the Crude Oil inventories news
at 1030am EST and if we sit in the middle of the range around 90.40 area we
need to sit-on-hands and wait for price-action to move higher or lower.
Third scenario
this morning is to wait to take profit-target at the 90.05 PLOD and then wait
for the sellers to fail and the buyers to bring this price back up. We will use the Max Entry-Trigger to get long
at the PLOD as the sellers fail and use the PHOD 90.95 as the final profit-target
going all the way back up.
this morning is to wait to take profit-target at the 90.05 PLOD and then wait
for the sellers to fail and the buyers to bring this price back up. We will use the Max Entry-Trigger to get long
at the PLOD as the sellers fail and use the PHOD 90.95 as the final profit-target
going all the way back up.
