- in Uncategorized by schooloftrade
Crude oil day trading strategy
Not much has changed from Tuesday to Wednesday’s day trading
strategy for crude oil. We still have the
bear price channel and the AB=CD pattern reversal zone. We are still looking for price to fall below
the 101.65 so we can sell retracements.
It also happens to be the PHOD 101.84 and when we fall below the PHOD for
the first time of the day we expect price will want to tumble.
As price fall below the PHOD and the 101.65 we
are selling retracements. If price keeps
moving higher we can buy pullbacks just beware trading long into this reversal-zone
will be higher risk until we get above 103.16.
 |
| Crude Oil Day Trading Strategy |
The
55-range chart further-refines our day trading strategy for crude oil. We see the new short term bull price channel,
the trend line as additional support, and the trigger zones which will be easy
profit targets for our entries selling the highs.
developing our day trading strategy for crude oil this morning. We can see the new short term bull price
channel and we want to use that as a guide.
We are selling below the PHOD as the buyers have failed and now we need
to look to take profit and look to buy the lows of the price channel. If price moves below 101.00 and the 89range
trigger line @ 100.98 so look for the break of 100.95 and then look to sell retracements
down to the next level of major support below you.
We’ve laid out a solid day trading strategy using
multiple timeframes, the dollar index as our guide, and now we just need the
price to come to us.
