Crude oil day trading strategy

Our day trading strategy for crude oil this morning uses
multiple timeframes to find the highest percentage trading opportunities and we
begin with the slowest timeframe 89 range chart to find the additional levels
of resistance overhead as price rises higher.

We can see the AB=CD pattern which is a little out of reach
today but will be good to know we’ve marked that off the list for today’s day
trading strategy. Look for major
resistance and a potential prive reversal around 112.00 on crude oil.

The faster 55 range chart shows us the bull price channel,
the PHOD where we are trading at right now and the trigger-zone support below
us. If we move higher we buy pullbacks above
PHOD and then sell the price channel highs.
If we move lower we will sell below PHOD

We also see some trend lines drawn as additional
support on the 55 range chart which we will also use as profit targets and
areas for price reversals.