October 19, 2012
- in Uncategorized by schooloftrade
Morning Crude Oil Checklist:
Heat Map
Review:
Market
personality is not moving this morning at 0.2%
personality is not moving this morning at 0.2%
Overnight
Highs & Lows:
Highs & Lows:
We have higher-lows
overnight giving us a bullish market sentiment.
We then tested and stalled out at the overnight highs. We can see a bullish doji, followed by a
bearish doji candle and we’re waiting for 900am EST when the new candle closes
on the 30-minute to make an educated decision.
overnight giving us a bullish market sentiment.
We then tested and stalled out at the overnight highs. We can see a bullish doji, followed by a
bearish doji candle and we’re waiting for 900am EST when the new candle closes
on the 30-minute to make an educated decision.
Inside or
Outside Day?
Outside Day?
We are
inside the range from Thursday, making this a range-bound market until we
breakout.
inside the range from Thursday, making this a range-bound market until we
breakout.
Find the price-structures:
· Trigger-zone is support.
· AB=CD Pattern is bearish
· Wedge is sideways, no price-channel.
· Zigzag Pattern is not on this chart
· Sideways Trading Range from 93.01
down to 92.25
down to 92.25
· Double-bottom provides resistance at
93.33 and 93.55 where we will sell-the-high at resistance
93.33 and 93.55 where we will sell-the-high at resistance
Wherewill a price-reversal be likely today?
We look for
the price-reversal around the resistance at 93.35 where we have the AB=CD
Pattern reversal zone and the double-bottom resistance levels.
the price-reversal around the resistance at 93.35 where we have the AB=CD
Pattern reversal zone and the double-bottom resistance levels.
What is
our trading plan for today?
our trading plan for today?
We have rollover to the 12-12 contract so we’re trading
cautiously this morning ahead of OPEX.
cautiously this morning ahead of OPEX.
We want to buy pullbacks above the PHOD as the buyers take
charge, but then looking for the short sellers to enter the market at the major
resistance overhead, so we will look for the short at 93.35 area back down to
the PHOD.
charge, but then looking for the short sellers to enter the market at the major
resistance overhead, so we will look for the short at 93.35 area back down to
the PHOD.
