December 14, 2012
- in Uncategorized by schooloftrade
Crude Oil Day trading strategy
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| Crude Oil Day trading strategy |
As of 9:30am
EST we are trading in the middle of the range and the price-wedge. We can see three trading opportunities at
this time.
If price
rises higher we will be looking at a higher-risk wave-pattern-short using the resistance
trigger-line at 86.41 for the entry. We
may not see the entry trigger on this wave-pattern, and if price moves above
the and tests the 86.50 or the highs of the bear price-channel and price-wedge around
86.75 we will be looking for a price-reversal to trade short off the highs.
rises higher we will be looking at a higher-risk wave-pattern-short using the resistance
trigger-line at 86.41 for the entry. We
may not see the entry trigger on this wave-pattern, and if price moves above
the and tests the 86.50 or the highs of the bear price-channel and price-wedge around
86.75 we will be looking for a price-reversal to trade short off the highs.
If price
does not retrace up to the wave-pattern-short and it goes lower we need to be
patient and wait for the test of price-wedge lows around 86.00 and buy these
lows using a 2step pattern long.
does not retrace up to the wave-pattern-short and it goes lower we need to be
patient and wait for the test of price-wedge lows around 86.00 and buy these
lows using a 2step pattern long.
