April 8, 2013
- in Uncategorized by schooloftrade
Crude Oil day trading plan
Crude Oil daily
chart shows us that price-action is moving higher after entering into the buy-zone
of 92.86, therefor we will assume this price-action this morning will be
bullish until something tells us differently, such as a faster chart timeframe.
 |
| Crude Oil Weekly |
Before we go
jumping into our long positions this morning we check the 4-hour (240-minute)
anchor chart and see that sell-zone as resistance at 936.46-93.57 that has held. This tells us that if we see price-action moving
lower this morning before 9:00am EST we are now looking to sell this this resistance.
jumping into our long positions this morning we check the 4-hour (240-minute)
anchor chart and see that sell-zone as resistance at 936.46-93.57 that has held. This tells us that if we see price-action moving
lower this morning before 9:00am EST we are now looking to sell this this resistance.
The
60-minute chart shows us more resistance at 93.44 which is almost the same
price level we saw as resistance on the 4-hour chart. This tells us that right now at 8:15am EST we
are looking for something to happen around this resistance.
60-minute chart shows us more resistance at 93.44 which is almost the same
price level we saw as resistance on the 4-hour chart. This tells us that right now at 8:15am EST we
are looking for something to happen around this resistance.
When we test
a sell-zone such as 93.44 we know that price-action can move higher, lower, and
sideways. If price moves higher we buy pullbacks
using the Wave Entry-Trigger on our way up to a profit-target at 94.57 sell-zone. If price trades sideways we sit-on-hands. If price moves lower we use the Max
Entry-Trigger to get short with a retracement down to a profit-target at the
trend line or the buy-zone of 92.32.
a sell-zone such as 93.44 we know that price-action can move higher, lower, and
sideways. If price moves higher we buy pullbacks
using the Wave Entry-Trigger on our way up to a profit-target at 94.57 sell-zone. If price trades sideways we sit-on-hands. If price moves lower we use the Max
Entry-Trigger to get short with a retracement down to a profit-target at the
trend line or the buy-zone of 92.32.
We wrap up
our anchor chart prep this morning with the 30-minute chart, and this again
shows us major resistance overhead and a failure for the buyers to break that resistance. We can see the trigger-zone on the 30-minute
chart from the 93.38 up to 93.72 and we can see that this ‘zone’ has held as resistance. We are officially bearish until something
tells us otherwise.
our anchor chart prep this morning with the 30-minute chart, and this again
shows us major resistance overhead and a failure for the buyers to break that resistance. We can see the trigger-zone on the 30-minute
chart from the 93.38 up to 93.72 and we can see that this ‘zone’ has held as resistance. We are officially bearish until something
tells us otherwise.
The trend
coming out of London is bullish from 3am to 8am EST so we’re looking at this as
a short term pullback in the longer term upwards trend today. We can also see
the London session has pulled back directly into its trigger-zone support from
93.30 to 93.39 so now we know the upwards trend from London appears to be ready
to test the highs again of 93.75.
coming out of London is bullish from 3am to 8am EST so we’re looking at this as
a short term pullback in the longer term upwards trend today. We can also see
the London session has pulled back directly into its trigger-zone support from
93.30 to 93.39 so now we know the upwards trend from London appears to be ready
to test the highs again of 93.75.
We can see a
short-term trend DOWN from 8am EST this morning, and if it continues to move
lower through 900am EST we will be getting short at the 9am EST open.
short-term trend DOWN from 8am EST this morning, and if it continues to move
lower through 900am EST we will be getting short at the 9am EST open.
If price-action
can test the 92.00 big-round-number area on our charts we are going to be looking
for the InsideOut Set-up LONG after see the buy-zone hold at 92.02 and
91.91. The PLOD is 91.91 which means
that if this holds as support we will buy as soon as we get the price-reversal at
the PLOD followed by the entry signal LONG on our entry charts.
can test the 92.00 big-round-number area on our charts we are going to be looking
for the InsideOut Set-up LONG after see the buy-zone hold at 92.02 and
91.91. The PLOD is 91.91 which means
that if this holds as support we will buy as soon as we get the price-reversal at
the PLOD followed by the entry signal LONG on our entry charts.
Our day
trading plan this morning on Crude Oil uses the bearish short-term trend from
8am to 9am EST as our biggest clue. We are
getting short at the 9am EST open with a profit-target at the US -100 tick
level at 92.55. Furthermore, if we can
keep moving lower and if we test the PLOD at 91.91 we are looking for the InsideOut
Set-up to get LONG buying the PLOD and using the PHOD as our profit-target.
trading plan this morning on Crude Oil uses the bearish short-term trend from
8am to 9am EST as our biggest clue. We are
getting short at the 9am EST open with a profit-target at the US -100 tick
level at 92.55. Furthermore, if we can
keep moving lower and if we test the PLOD at 91.91 we are looking for the InsideOut
Set-up to get LONG buying the PLOD and using the PHOD as our profit-target.
If the
sellers were to fail this morning at 900am EST we know that a close above the “London
trigger-zone” highs at 93.39 will change our bias to bullish and we will exit
our short position and get long back up to the London highs as the profit-target
for the buyers. Join us HERE.
sellers were to fail this morning at 900am EST we know that a close above the “London
trigger-zone” highs at 93.39 will change our bias to bullish and we will exit
our short position and get long back up to the London highs as the profit-target
for the buyers. Join us HERE.
