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Traders Network Blog
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Futures Broker/ Grain News and Calls
Posted by Mike on 09/03 at 7:37 am -
Futures News -Unemployment (9/3/2010)
Posted by Samson on 09/03 at 6:51 am -
Futures News – Initial Jobless Claims (9/2/2010)
Posted by Samson on 09/02 at 6:55 am -
Swing Trading Strategies – Gold reached the target objective on the projected reversal date! [chart]
Posted by John on 09/01 at 10:59 am -
Swing Trading Strategies – Silver triggers new buy off of reversal/reaction date pattern. [chart]
Posted by John on 08/31 at 9:02 am
Swing trade signal confirmed in June Heating oil! [chart]
Posted on Thursday, April 29th, 2010 at 9:54 am by John in Energy Markets, Futures Commentary
Tags: Action/Reaction, Commodities, EIA Energy Stocks, Futures, market news, market timing, price action, Reversal dates, Swing Trading, traders market views
June Heating oil rallied off the low, posted on the April 28 reversal swing date. The market had dipped down into the reversal date, with two lower closes, leading into the pivot low. After finding support from the lower up-sloping action line, Heating oil ended the corrective pullback and turned higher. The new upward thrust is pushing the market out of the cconsolidation pattern where it has been trading over the past three weeks. The market should have built up enough energy to break out of the pattern and begin the new upward swing into the next reversal date on May 7th. This reaction swing pattern also projects a price target objective at 2.4250.
How to find and use the reaction swing pattern to make future Time and Price projections for swign trading is covered in the book “Unlocking Wealth, Secret to Market Timing.”
June Heating oil