ScottBogatin

Bobby's homework assignment 2

NYMEX:CL1!   Light Crude Oil Futures
8.23.23 I am very sorry about this... I was describing A very important pattern as a bear flag. It is not a bear flag It is a bear trap. I'm going to keep the video and upload it because I want you to see the price action and the little things that I look for that I think can be helpful. Oil is a great market and if you're careful you might leave some money on the table or miss a trade, but when the oil Market is moving it won't take long for it to give you another chance. Every now and then when I'm showing how markets move around gaps, I'm wondering if I should do this because this type of analysis Encourages lots of Scalp trades....And if you're not careful.... constant Scalping can get you into trouble. Regarding bear traps... if you don't know what they are or you're not willing to look for him... you never see them. If you know what they are you're better prepared to think like a trader Who may take One position or the other.... but is constantly Identifying where each side of the market is... they try to identify where the buyers are and where the sellers are.... and that's going to help them define their targets.
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