Tuesday, August 9, 2016

Market Psychology Of A Trend Day Turned Range Day On Crude Oil Futures; SchoolOfTrade.com

We kicked off the morning with a gorgeous run higher from the buyers. This aggression from the buyers allowed traders to easily buy on the way up for targets. We began seeing a lot of trouble on the highs though where sellers are beginning to scale in for weakness.

The sellers ended up taking over right back to the lows forming a full rotation range day negating all of the trend traders worked so hard for in the morning. This gives us a clue that we need to shift gears and our trading style and look to buy low and sell high instead of trend trade!

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