Tuesday, August 23, 2016

Price Action Trading The Trap On Crude Oil Futures; SchoolOfTrade.com

We had a relatively lack-luster morning with price more in a range than anything after the initial smaller gap lower. The buyers were attempting to hold the lows after sellers finally got their objectives on the bottom.

After the objectives were met, sellers are less likely to be looking for breakout moves down and would rather sell higher if at all. Knowing this, waiting for the trap where chasing sellers will likely attempt to jump in allowed us to slam price through their stops and bag a MASSIVE run higher!

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