Monday, May 9, 2016

Price Action Trading The Buyer Trap On Crude Oil Futures;

Today we had a strong drive lower off the missed high into a huge drop. This gave a move lower where buyers were trying to scale in but immediately getting stopped out for buy traps ripping down.

Traps can give some of the best setups around and this was no exception. We had a strong move down with a miss on the highs so buyers will likely buy into this but when they know they are wrong quickly after entering, they will exit forming a trap move.

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