Monday, August 1, 2016

Price Action Trading The Crude Oil Futures Bull Failure;

We came in to start the month off with a fairly sturdy drop in prices on Crude Oil. This move lower was nice and strong with any buy attempt being almost immediately reversed so looking for buyers failure is a great strategy.

We had a huge bull spike that lead into a 1 tick trap reversal back down into a potential stop run low. This gave us a big clue to sell into the move knowing that bottom pickers trying to buy the low will likely have stops below the lows for a stop run into our objectives!

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