Click on chart for a larger image of the Crude Oil Short Trade. This is a trade that continued it's downward pressure below the $60 per barrel level today. Now, applying our fibonacci tool today we saw that our high and low of the market, and a possible retracement figure around 60.38.
The 11AM trading bar gaves us the best signal as this was the bar that closed below the double bottom for a nice entry short in Crude today.
How far does crude continue to fall? I watched a video giving 59.50 as a level today ... videos are worth the grain of salt they are worth as a forecasting tool. Although, have a plan to trade that video is what is important right? That is to make money from it correct?
This means this week that I pulled out over $2,000 from the Crude Oil Market ... not a bad 2 day week.
Good Trading,
David "Tiger" Knight
P.S. I will be making a youtube video on this trade I hope by tomorrow as time permits.
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