April 17, 2012
- in Uncategorized by schooloftrade
Crude Oil Day Trading Strategy Earns EASY +100ticks
We nailed 2 HUGE winning tradesthis morning using this simple day trading strategy for Crude Oil futures.
First, we found the bull price
channel on the 55-range chart. Then, we
noticed the OUTSIDE DAY tells us to buy pullbacks with new higher-highs, and
then when we start to read the tape, we noticed the sellers were not nearly as
strong as the buyers so we bought pullbacks with higher-highs using the highs
of the short term bull price channel as our final targets around 104.80
area.
channel on the 55-range chart. Then, we
noticed the OUTSIDE DAY tells us to buy pullbacks with new higher-highs, and
then when we start to read the tape, we noticed the sellers were not nearly as
strong as the buyers so we bought pullbacks with higher-highs using the highs
of the short term bull price channel as our final targets around 104.80
area.
Now that we find ourselves at the
highs, we’re looking for the sellers to grab hold after the buyers are
exhausted and we want to sell the highs of the bull price channel, the major
bear price channel and the trend line resistance overhead, etc.
highs, we’re looking for the sellers to grab hold after the buyers are
exhausted and we want to sell the highs of the bull price channel, the major
bear price channel and the trend line resistance overhead, etc.
Remember, sometimes Crude Oil can be low volume
and can move right through these resistance levels, so we can’t cheat, we need
to read the market personality, read the speed and the time and sales window,
and look for the sellers to show more weakness before we try to buy at the highs. Ideally we look to sell in the range above
105.18 up to 105.49.
