Thursday, October 24, 2013

Double Bottom Fake Out Trading On Crude Oil Futures; SchoolOfTrade com



We see Crude Oil Futures this morning moving off of the lows it created yesterday afternoon and in the GLOBEX session this morning. We moved up into our cloud which is a perfect area to look to sell.

The market moved off of the cloud prior to the trade room being open, but on its way down we crashed into the previous swing low creating a possible double-bottom area. Once we reached that area, we failed to break or close below it and moved higher

This move higher gave us an opportunity to hop on board with a 456 continuation trade after a fake out break out has occurred at the previous swing low netting us a gorgeous trade AND $500 this morning!


Come join us in the room and see how we do it!

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