Today's MARKET STATE CRUDE OIL **BULL TREND**
- The MKT has a firm tone and as long as the integrity of the previous session low remains intact, look for excuses to get long. On the SELL side UP FADE strategies are valid but profit targets and risk management should be tight. REVERSAL strategies should be applied only at the UP and +c after an exhaustive signal. Use DP BREAKOUT strategies as a signal to FADE a positive reaction against the DIR. Only until the MKT breaks the positive structure are sell signals an opportunity.
- On the BUY side BREAKOUT, FADE and REVERSAL are recommended as the MKT is bid and all buy signals are valid opportunity. If stopped out at or near the low tic of a reaction and the MKT is not following through to the downside, look to re-enter using the recent squeeze low as a stop. If the MKT breaks structure, de-leverage and be more selective as the likelihood of a sideways trade is high.
Today's PRICE MAP Performance for CL
Wrap Up
Today we had an interesting setup in the CRUDE OIL futures market. With an MC Value of +5 the MKT produced a BULL TREND signal. However, the analyst called the markets bluff by placing the R Level at the minor level above the UP, signalling to traders that the opportunity was to the downside below the R. The market opened up within the Critical Range and then began to sell off sharply during the morning session. By trading below the DP, the market offered JS Traders a SELL DP BREAKOUT opportunity, targeting the DT2. Maintaining negative structure along with monitoring the moving average crossover tactic was the key in today's session. The faster MA crossed below the slower MA giving us confirmation to accept the SELL BREAKOUT strategy. Also notice that the market maintained negative structure and found resistance at the "moving average band" throughout the decline. The market eventually achieved are downside target at the DT2 around 11:00 am CT.
Today we had an interesting setup in the CRUDE OIL futures market. With an MC Value of +5 the MKT produced a BULL TREND signal. However, the analyst called the markets bluff by placing the R Level at the minor level above the UP, signalling to traders that the opportunity was to the downside below the R. The market opened up within the Critical Range and then began to sell off sharply during the morning session. By trading below the DP, the market offered JS Traders a SELL DP BREAKOUT opportunity, targeting the DT2. Maintaining negative structure along with monitoring the moving average crossover tactic was the key in today's session. The faster MA crossed below the slower MA giving us confirmation to accept the SELL BREAKOUT strategy. Also notice that the market maintained negative structure and found resistance at the "moving average band" throughout the decline. The market eventually achieved are downside target at the DT2 around 11:00 am CT.
