Tuesday, March 26, 2013

Crude Price Action: Pin Bar Trade Setup Fails, 27/03/2013

The Trade room was going to trade this setup and I actually did give a trade call on it, but did a quick reverse when I took another look at the 4hr chart pattern. (Which I use to filter out potentially good setups). Now that resistance is broken, long entries will be made if price manages to rotate lower into New Support at 94.82 pending good price Action Setups.

My recommendation: Wait for price to reach Support or Resistance 

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