Comments on: USO Bear Trap and Breakout as of October 15

By: xcss

xcss — Sat, 17 Oct 2009 00:57:12 +0000

Corey,

Thanks for sharing your work, what do you think about this:

http://stockcharts.com/h-sc/ui?s=$WTIC&p=D&st=2...

By: Dan de Man

Dan de Man — Fri, 16 Oct 2009 20:53:47 +0000

Looks like a short covering pop for NG today. BBands look like ranging markets though.

By: xcss

xcss — Fri, 16 Oct 2009 19:57:12 +0000

Corey,

Thanks for sharing your work, what do you think about this:

http://stockcharts.com/h-sc/ui?s=$WTIC&p=D&st=2...

By: Chart Junkie: China Automotive, 78-year Anchored VWAP on the Dow, Annotated Yen, and a Bear Trap in Oil | Wall St. Cheat Sheet

Fri, 16 Oct 2009 16:58:21 +0000

[...] Corey Rosenbloom, The Technical Analysis Professor, shows us how a Bear Trap worked in Oil (NYSE:USO): “The lesson I can give you about Bear Traps is that they are generally impossible to foresee ahead of time (that’s why they’re called traps!) but you CAN take advantage of them by recognizing when the trap is sprung and playing part of the rally that comes after bears/sellers are caught in the squeeze.” (Source: Afraid to Trade) [...]

By: Dan de Man

Dan de Man — Fri, 16 Oct 2009 15:53:47 +0000

Looks like a short covering pop for NG today. BBands look like ranging markets though.

By: dumbpainter

dumbpainter — Thu, 15 Oct 2009 23:50:12 +0000

Or it could be a bulltrap!!

Trendline July and September lows...and we're still in an ascending triangle unresolved.

(Granted, volume has been trending bullish;)

By: Dan de Man

Dan de Man — Thu, 15 Oct 2009 20:50:44 +0000

Adding a full stochastic 5,3,3 can help warn swing traders of a bear trap (Sept 29 crossover). Also using a short term ADX can verify an uptrend too (Sept 13, adx cuts through -di). ADX is one of Chuck LeBeau's favourite indicators.

http://stockcharts.com/h-sc/ui?s=USO&p=D&yr=0&m...