June 23, 2016
- in Uncategorized by schooloftrade
Market Psychology Of A Failure On Crude Oil Futures; SchoolOfTrade.com
Today we open up with a HUGE gap higher showing that the buyers from the EOD yesterday are likely very happy with the move and given that the first bar of the day was so bearish, taking profit as well. This profit taking may just be for a few candles or it could be for the whole day.
The profit taking move down was quickly snapped up by buyers likely chasing the move from yesterday but they had TERRIBLE continuation. The buyers couldn’t even manage to break the HOD by more than 1 tick before failing back down and that is a HUGE clue that they were losing grip very quickly.
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