Thursday, August 4, 2016

Market Psychology Of A Range Morning On Crude Oil Futures; SchoolOfTrade.com5

Today we came in with a big bull spike at the open off major support from the monthly chart. This gave buyers a shot to take the market over but they never showed up. When the sellers had a chance to fight back and go the opposite direction, they also didn't want to show up.

Once we have a range formation with confirmation like this, we are able to look to fade both sides of the range assuming every breakout will fail and any breakout that does actually work, will STILL likely come back to the range anyway.

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