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Featured Trading Lesson - How Price Action Trading Changed My Life

Note: We Use ‘New York Close Charts’ – Get Our Preferred Charts & Trading Platform Here

As we discussed in this week’s weekly chart analysis, Crude Oil has been trending higher and we have been looking to buy, in-line with that trend. As we can see in the chart below, the price of West Texas Intermediate crude oil remains buoyant above the support level at $49.30 a barrel; a level we have been look to buy from or near recently.

From here, we would ideally wait for a clean price-action buy signal before recommitting to a long position, for those not already long. More experienced traders might like to put on a long trade intra-day while the price is still supported at or above the $49.30 level. Look to buy on weakness as long as the trend remains intact.

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is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 15,000+ students since 2008.
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4 Comments

  1. Sue says:

    Thanks Nial ya so lovely

  2. Adrian Fiorito says:

    Nial,
    when you say look for price action sell signals whilst price is “contained under” etc etc. do you mean wait for price to reach the nearest resistance level or trade any bearish price action signals whilst under this containment area?

  3. Santhosh says:

    Good information..

  4. Samuel says:

    Thank you Mr.Nial,you are always on point.

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