December 6, 2012
- in Uncategorized by schooloftrade
Crude Oil day trading plan
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| Crude Oil day trading plan |
Our day
trading plan for Crude Oil Futures this morning is to use the inside-day price-structure
along with the trigger-zone support at 87.25 as our biggest clue at 8:30am EST.
trading plan for Crude Oil Futures this morning is to use the inside-day price-structure
along with the trigger-zone support at 87.25 as our biggest clue at 8:30am EST.
If price
rises higher we will have failed to break new lower-lows below the PLOD which
means that the sellers have failed and we want to buy a buyer at the PLOD. We are going to use a 2step pattern, a price-reversal
pattern to enter long buying the lows. Our
profit-target for the buyers will be 88.20 (89 trigger-line) and 89.05 which is
the PHOD.
rises higher we will have failed to break new lower-lows below the PLOD which
means that the sellers have failed and we want to buy a buyer at the PLOD. We are going to use a 2step pattern, a price-reversal
pattern to enter long buying the lows. Our
profit-target for the buyers will be 88.20 (89 trigger-line) and 89.05 which is
the PHOD.
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| CRUDE OIL SHORT TERM PLAN |
If price
falls lower this morning we need to get below the 87.25 level of support before
we can get confident to sell short. I’m looking
for a wave-pattern-short below this trigger-zone support 87.25 and I will have
a profit-target below at the price-wedge lows around 86.00. we will look more specifically for the final profit-target
when we get down to the lows, it may be a little higher or lower than 86.00
when we get there.
