Thursday, March 31, 2016

Selling The Megaphone Reversal On Crude Oil Futures; SchoolOfTrade.com



This morning we see Crude Oil respecting the VERY large Megaphone Pattern highs after blowing through the lows of it a bit. This gives us a perfect place to look to fade the strong move up for a correction back lower.

Due to the strength that the market shot higher, I am not looking for a full blown reversal, but rather a correction back the EMA for our profit targets before considering shifting gears to go right back up once again to the high of day!

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