September 7, 2012
- in Uncategorized by schooloftrade
Morning Crude Oil Checklist:
Heat Map Review:
Crude Oil is indeed moving this
morning, we have +0.4% on the heat map.
morning, we have +0.4% on the heat map.
Overnight Highs
& Lows:
& Lows:
We have failed above overnight highs,
this is bearish. Target for sellers is
the Open this morning and the PLOD.
this is bearish. Target for sellers is
the Open this morning and the PLOD.
Inside or Outside
Day?
Day?
We are inside the range from Thursday and
we are in the middle of this range.
we are in the middle of this range.
Find the price-structures:
· Trigger-zone is support below us
· AB=CD Pattern is resistance above us
· Price-wedge is bullish inside the bull price-channel.
· Sideways Trading Range is there, and we are in
the middle.
the middle.
Where will a
reversal be likely today?
reversal be likely today?
We are inside a price-wedge, we will
see the price-reversal at the lows for the high-percentage-trades buying the
lows, or if price tests the highs we are likely to see the sellers take control
and reverse off the highs.
see the price-reversal at the lows for the high-percentage-trades buying the
lows, or if price tests the highs we are likely to see the sellers take control
and reverse off the highs.
What is our
trading plan for today?
trading plan for today?
We
are going to wait patiently for the market personality to confirm how the
traders are viewing this somewhat mixed news report from Non Farm Payrolls.
are going to wait patiently for the market personality to confirm how the
traders are viewing this somewhat mixed news report from Non Farm Payrolls.
