Another Oil trade today brings in more profits
In this market update, Lee explains why he was interested in shorting Oil today and not going long like he did yesterday.
Are you interested in learning face-to-face with Lee Sandford? Join us on Saturday 16th June in London for our one day Learn To Trade Live course. Find more details here.Reserve your place for June 16th in London.
Oil Daily Chart
After Thursdays Crude Oil trade that brought in 100 points profit to the long side (check out yesterdays market update), today it was about reversing that trade because we had a Trend Predictor Short signal. You can see from the chart below that we had a red down-pointing arrow. That signals that today will be a down day with the price. So that means we just look for short trades all day. The Trend Predictor gives us that edge in the market and prepares us for which direction the market is going to go on the next candlestick.
We continue to be in a wave 4 retracement which looks like it could become a zig-zag pattern. We have been spot on again with the EURUSD by combining our wave analysis and the Pro-Trading System.
Looking for long side trades if we get down to 117, for a reversal to 11912.
The above charts, images, copy, and video belong to Trading College. Photocopying and further distribution of this information are strictly prohibited. The information contained in the service is expressed in good faith. Trading College service is purely educational and is therefore not regulated by the Financial Conduct Authority.