Thursday, July 21, 2016

Price Action Trading The Range Failure On Crude Oil Futures;

Coming in today we see a strong bear sentiment to kick the day off but it completely began falling apart with both sides of trade seeing bad follow through. This gave us clues that, although bears have control, the prior swing lows may be all the market is able to get before buyers begin jumping in again.

This back and forth range environment can give very big clues on how to approach the market and trade it correctly. With all of the failures on both sides, there isn't a good reason anymore to look for a big breakout to continue, but instead, looking to take profit if the breakout does occur.

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