July 27, 2012
- in Uncategorized by schooloftrade
Crude Oil is moving higher according to the heat map
Crude Oil Futures
Checklist:
Checklist:
Heat Map: What is ittelling us?
Crude Oil is moving higher according to the heat map.
OHLC Analysis:
Higher-highs across the board, we assume this will result in
rising prices, so our bias is bullish.
rising prices, so our bias is bullish.
Overnight Highs & Lows:
We tested the early morning lows and the support has
held. We have not tested the PLOD so we
may indeed try to hunt that down later this morning.
held. We have not tested the PLOD so we
may indeed try to hunt that down later this morning.
Are we inside or outside day today?
We are inside the range from Thursday, above the PLOD and
below the PHOD almost in the middle.
below the PHOD almost in the middle.
What price-structures do we see?
·
Price
wedge is easy to find, and its sideways
Price
wedge is easy to find, and its sideways
·
Price
Channel is not showing up on this chart today 89range
Price
Channel is not showing up on this chart today 89range
·
Trigger-zone
are located on 89range above us and below us at the extremes of the price wedge.
Trigger-zone
are located on 89range above us and below us at the extremes of the price wedge.
·
AB=CD
Pattern has set-up with the test of the 90.00 big round number and the trigger-zone
resistance.
AB=CD
Pattern has set-up with the test of the 90.00 big round number and the trigger-zone
resistance.
·
Zigzag
is not here on this chart
Zigzag
is not here on this chart
·
Double-top
/ Double-bottom are not here on Crude Oil 89range today
Double-top
/ Double-bottom are not here on Crude Oil 89range today
·
Range
Highs and Lows we are at the highs of the short-term trading range and our day
trading strategy says to sell those highs.
Also remember if we blow right through those highs we consider it
bullish, and after looking for the fake-out breakout, we then can buy pullbacks
with a wave-pattern and the profit target will be at the trend line overhead.
Range
Highs and Lows we are at the highs of the short-term trading range and our day
trading strategy says to sell those highs.
Also remember if we blow right through those highs we consider it
bullish, and after looking for the fake-out breakout, we then can buy pullbacks
with a wave-pattern and the profit target will be at the trend line overhead.
Where will a reversal be likely today?
We expect a price-reversal at the highs or the
lows of the price wedge, and we’re testing the highs as we speak, so we will
look for selling opportunities at the highs as the next high-percentage trades.
