today's CL price action

Today is a bank holiday in the USA so I expected the ES to be low volume, so no trades taken today. However, CL had 2 good moves today. One at the European open and one soon after the NYMEX opened.

If you had previously read this blog, you will know that I learned to trade from the Online Trading Academy which taught me how to identify Supply and Demand on a chart.  I also use Volume Spread Analysis (VSA). 

I am also a member of the Big Mike Trading forum, and I use some great trading tools that I have down loaded from there.  So in this post, I will show how I use what I learned with these tools from BMT in helping me to identify trading opportunities based with my supply and demand trading.

So here are 3 charts that I use for my trading, with comments on what I would look for, before taking a trade.

Please leave a comment if you like this post.

Regards,

Dudley