Thursday, June 30, 2016

Price Action Trading The Spike and Channel On Crude Oil Futures;

Today had a VERY slow start overall with price grinding its way lower. This came in the form of a bear spike and channel that continued to hold all morning. When the buyers attempted to break out of the bear move, the sellers saw it as a great place to sell and swatter price back down.

Given the grindy nature of the morning, we knew it wasn't going to be a fun ride down but staying patient and letting the market do it's thing allowed for a great move lower into the objectives below!

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