December 11, 2012
- in Uncategorized by schooloftrade
Crude Oil day trading plan up-date
 |
Crude Oil day trading plan up-date |
Crude Oil breaks
to new lower-lows confirming the sellers are indeed trying to test the PLOD and
we will be looking for a selling opportunity on the way down.
to new lower-lows confirming the sellers are indeed trying to test the PLOD and
we will be looking for a selling opportunity on the way down.
We have
identified a bearish price-channel and a bullish AB=CD Pattern which both will
be used for profit-target and a price magnet on the way down.
identified a bearish price-channel and a bullish AB=CD Pattern which both will
be used for profit-target and a price magnet on the way down.
Look for taking
on a short trade at the LOD 85.59, then PLOD 85.33, and the symmetry support at
85.05.
on a short trade at the LOD 85.59, then PLOD 85.33, and the symmetry support at
85.05.
Keep in mind
that if Crude Oil drops to the 85.00 area we have major support from the
bullish AB=CD Pattern we will be using to take profit-target and then buy this support.
that if Crude Oil drops to the 85.00 area we have major support from the
bullish AB=CD Pattern we will be using to take profit-target and then buy this support.
Also
remember that the sellers MAY fail this morning, and we will be looking for the
signs of a price-reversal on the way down.
We can see an easy entry long above the 85.95 and we can see an easy profit-target
above us at the trigger-zone resistance of 86.25 which is also the price-channel
highs.
remember that the sellers MAY fail this morning, and we will be looking for the
signs of a price-reversal on the way down.
We can see an easy entry long above the 85.95 and we can see an easy profit-target
above us at the trigger-zone resistance of 86.25 which is also the price-channel
highs.
