Skip to around the middle of this lesson to see how we found a profitable trade in December Crude on a day when the markets had ground to a halt waiting for the usual ‘momentous’ announcement from the Fed. We used a bearish, big-picture target to inform our bias; then we identified a very subtle, downtrending ABC pattern on the sub one-minute chart to find our entry point. The initial risk was just seven ticks, and we were able to cover three quarters of the position before the session ended. Potentially ‘easy money’ awaited at the target, since we had a nice profit to cushion a generous stop-loss on any bottom-fishing attempt.
