Crude Oil Day Trading Strategies

Our day trading strategy for crude oil futures uses this bear price channel, price wedge, double-top, and the trigger zone as our biggest clues.

We can see that the big drop off the highs occured around 830am news this morning so we missed the big drop off the highs around the news and now we’re waiting for a trading opportunity to come to us.

In the middle of the range we know that price can move sideways, higher, or lower so we plan for all three.

if price moves sideways we need to be very careful because we’re in the middle of the range.  if price moves higher we can buy above PLOD but we really want to see the buyers start to fail and price comes back down.

The best trading this morning will be to buy the major support at 97.50 and then look to sell below the double-top support of 97.15.  If we cant break below 97.15 we must consider this to be higher risk because we’re in the middle and we have very little room to breathe.

Crude Oil Day Trading Strategy

Our day trading strategy for the crude oil is well defined on the 55 range chart and we see confirmation of the price structures we found on the 89 range chart above.  we want to sell retracements with new lower lows but taking profit and covering those shorts around the major levels of support such as 97.50, 97.15 and then looking to sell new lower lows with retracements below 97.15 to take the it down to the wedge lows and double-top max extension.

Our 21 Range chart for crude oil shows us all the trigger zones above us which will make for easy profit targets if this price wants to go higher.  if price wants to go lower we get our best opportunities below 97.15