Monday, October 7, 2013

Crude Oil Day trading strategy;

Crude Oil Anchor Chart

The anchor chart of Crude Oil is moving lower this morning however we have a bullish long-term trend that is in our way.  We see the higher-highs and a new lower-lows as the bullish price-channel is being threatened.

The set-up chart shows us lower-lows and lower-highs along with a bearish trend price-channel so we have what we need to sell short this morning as soon as we see the entry pattern.

Crude Oil Set-Up Chart

Once we get short this morning our profit-targets will be using the PLOD from last week at 101.51 and the previous weekly lows of 101.05

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