Oil on a strong move as mentioned one should be coming and now doing a formation of a flag that could provide a further move higher. Inside the red zone are 2 of our prior support and resistance lines(blue) and figured i would leave them on the chart today. I will be looking for a pull back down that I will be watching to see if it holds so I can get long,...
Big trading range that will break out sometime but until then will be shorting from top and long from bottom, will update if anything changes, other than that not much else to say
big 2 point consolidation. I will be trading this range until it breaks. so long and short inside and with direction when it breaks. Very simple plan today
After oils up move it remains balanced in a big flag and I will be looking for bottom of range longs and top of range shorts, and will form no directional opinion until this range of 55.25 to 56.75 breaks.
The session so far has been very balanced and is inside yesterday, so I will be looking for a sideways action to trade until we can move outside yesterday's action. the line drawn are containing that action and will give clues to the intraday scalping trades, if we break out will provide targets at that point. will look for a move down to 54 and then be trying...
oil looks to be very balanced and is getting ready for a good sized breakout, I do not think the break out happens today but the outside blue boundaries, if broken will change my mind if a move out side this range is held. So today I will be looking for a range bound day with two possible trades. 1) short from top of blue zone and long from bottom of blue zone...
after yesterdays small up move and a overnight session that has been happy at these new levels I will be looking for a back and forth action between the red lines. Now any move that is maintained outside this range I will bias the break out direction. In the even of the break out will post more target number even though many are drawn in. So looking for shorts...