Thursday, June 23, 2016

Market Psychology Of A Failure On Crude Oil Futures;

Today we open up with a HUGE gap higher showing that the buyers from the EOD yesterday are likely very happy with the move and given that the first bar of the day was so bearish, taking profit as well. This profit taking may just be for a few candles or it could be for the whole day.

The profit taking move down was quickly snapped up by buyers likely chasing the move from yesterday but they had TERRIBLE continuation. The buyers couldn't even manage to break the HOD by more than 1 tick before failing back down and that is a HUGE clue that they were losing grip very quickly.

Test-Drive our Advanced Membership  Click here to register for the Free Trial!
Are you a Crude Oil Trader? Click here to trade Crude Oil
Are you a Euro Trader? Click here to trade Euro
Are you an E-Mini Russell Trader? Click here to trade E-Mini Russell
Are you a Gold Trader? Click here to trade Gold
Join the Premier trade-room as an Advanced Member

No comments:

Post a Comment

Thank you for your comment! Your comment will be reviewed and posted asap, thank you for your patience.