Thursday, June 9, 2016

Price Action Trading The Strong Trend Wedge Breakout On Crude Oil Futures; SchoolOfTrade.com



We came in today to see that Crude Oil had been absolutely pummeled in the overnight session without any sign of stopping. This HEAVY selling pressure needs to be something you pay attention to and that means disbelieving buyers and selling any good signal.

We had an ascending wedge form pulling back to the EMA where we broke back down again after buyers failed to get good follow through higher allowing the sellers to slam the market right back down again for another big leg!

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