July 22, 2013
- in Uncategorized by schooloftrade
Day trading strategy earns profit on Crude Oil futures
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This morning we completed our morning
prep in our Live Trade Room at 8:00am EST and we identified a sloppy, yet
bullish market-personality on Crude Oil futures.
prep in our Live Trade Room at 8:00am EST and we identified a sloppy, yet
bullish market-personality on Crude Oil futures.
Our initial
plan was to buy
pullbacks using our Wave Pattern to get long with the long-term-trend being
higher, but that didn’t last very long because as soon as we looked for our
first trade long we found some big clues that told us to skip the long trade
and wait for more information.
plan was to buy
pullbacks using our Wave Pattern to get long with the long-term-trend being
higher, but that didn’t last very long because as soon as we looked for our
first trade long we found some big clues that told us to skip the long trade
and wait for more information.
In this video we will
review what we used to earn profit trading on Crude Oil this morning in our Live
Trade Room.
review what we used to earn profit trading on Crude Oil this morning in our Live
Trade Room.
 |
| Crude Oil Anchor Chart |
The first thing we saw this morning
was a sloppy, yet bullish market-personality on Crude Oil. We used a slightly slower anchor chart to
find the short-term trend moving higher, so we defined our day trading plan for
Crude Oil and began to look for the first trade of the day.
was a sloppy, yet bullish market-personality on Crude Oil. We used a slightly slower anchor chart to
find the short-term trend moving higher, so we defined our day trading plan for
Crude Oil and began to look for the first trade of the day.
 |
| Crude Oil Entry Chart |
We got new high-highs in price on Crude
Oil just before the opening bell at 9:00am EST, so we began to look for a buying opportunity
using the Wave
Pattern. As the price got closer
to our entry we began to look over our entry rules, and we noticed that there
was a BIG RED FLAG. We decided to remove
our pending order to get long after seeing the ‘cloud’ on our chart not lined
up with our entry rules.
Oil just before the opening bell at 9:00am EST, so we began to look for a buying opportunity
using the Wave
Pattern. As the price got closer
to our entry we began to look over our entry rules, and we noticed that there
was a BIG RED FLAG. We decided to remove
our pending order to get long after seeing the ‘cloud’ on our chart not lined
up with our entry rules.
The best decision we made all morning
was to AVOID the long trade, and when we then saw new lower-lows we were able to sell
retracements on the way to new lows throughout the entire morning. All morning if you simply waited for your Wave
Patterns to trigger the entry you made a KILLING on this simple day trading
strategy.
was to AVOID the long trade, and when we then saw new lower-lows we were able to sell
retracements on the way to new lows throughout the entire morning. All morning if you simply waited for your Wave
Patterns to trigger the entry you made a KILLING on this simple day trading
strategy.
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