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  1. #1
    Veteran Member Ammeo's Avatar

    Crude Oil Call (1 week) !!!

    Today was the 4th consecutive days of quasi perfect range trading on the oil market. As long as we hold within that range the strategy is rather simple: sell the top of the range or buy the bottom. That's pretty much all there is to it, unless of course price breaks out of the range. It is a simple strategy but not as easy to follow as it may seem. Most traders (me included) prefer by far a good old fashioned trend trade. I guess we'll have to wait next week for that.
    Crude Oil Call (1 week)
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  2. #2
    Veteran Member Ammeo's Avatar
    From a technical analysis point of view, the market opened at 102.71, i.e. well below and outside of Friday's range and value area. In fact, we were back into last Wednesday's value area. One unfilled gap stood above at 103.78 and was filled later around lunchtime. From that high, market came back down to end not too far from where it had started at 9:00am. Initial balance came in at 88 ticks, or 57% above its 10-day average.

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