September 26, 2013
- in Uncategorized by schooloftrade
Crude Oil Day trading strategy; Morning Prep Screen to Floor 09/26/13
7:30am EST
Focus-Points this
morning:
morning:
· Traders looking forward to better market
personality this morning after a low-volume first-half of the week.
personality this morning after a low-volume first-half of the week.
· Markets in Europe moving lower this
morning after disappointing news from Italy and the UK
morning after disappointing news from Italy and the UK
· Oil pushes higher this morning, up
$.36 trading around the 103.00 big-round-number.
$.36 trading around the 103.00 big-round-number.
· E-Mini S&P trading higher this
morning ahead of the opening-bell in the US
morning ahead of the opening-bell in the US
· Traders in the US prepare for Red-Star
news events at 8:30am EST this morning from GDP
and Jobless
Claims.
news events at 8:30am EST this morning from GDP
and Jobless
Claims.
Economic News on the
schedule today:
schedule today:
8:30am EST: GDP
| Jobless
Claims
| Jobless
Claims
10:00am EST: Pending
Home Sales | Fed Speaker Jeremy
Stein
Home Sales | Fed Speaker Jeremy
Stein
10:30am EST: Natural-Gas
Inventories
Inventories
12:15pm EST: Fed
speaker Narayana
Kocherlakota
speaker Narayana
Kocherlakota
Crude Oil Analysis:
 |
| Crude Oil Daily |
Daily Chart: Prices are coming off
the recent highs of 111.48 and headed towards the support level at 101.27
today. We can see today’s daily
candlestick is inside yesterday’s bearish candle, suggesting that buyers are
trying to prevent this collapse from happening today.
the recent highs of 111.48 and headed towards the support level at 101.27
today. We can see today’s daily
candlestick is inside yesterday’s bearish candle, suggesting that buyers are
trying to prevent this collapse from happening today.
 |
| Crude Oil 4-Hour |
240-Minute Chart: prices are moving
lower this morning on the way to the support level at 101.48 and 99.12. We can see trend-lines above and below us as support
and resistance. We will look to buy the
lows and sell the highs of this price-wedge using the support levels below us
as our guide.
lower this morning on the way to the support level at 101.48 and 99.12. We can see trend-lines above and below us as support
and resistance. We will look to buy the
lows and sell the highs of this price-wedge using the support levels below us
as our guide.
 |
| Crude Oil 1-Hour |
60-Minute Chart: We can see a bearish price-channel
and price-action is trading higher coming off the lows and bouncing off the 102.00
big-round-number. We can see resistance levels
overhead at 105.8 and 105.88, which we will use for a long term profit-target for
buying these lows. Look for immediate resistance
at 103.96.
and price-action is trading higher coming off the lows and bouncing off the 102.00
big-round-number. We can see resistance levels
overhead at 105.8 and 105.88, which we will use for a long term profit-target for
buying these lows. Look for immediate resistance
at 103.96.
 |
| Crude Oil Half-Hour |
30-Minute Chart: We can see the
multi-day bearish trend is coming to an end, and there is evidence that today will likely be a range-bound trading
session because yesterday gave us higher-highs and lower-lows and then
closed near the session lows before opening this morning back in the middle. This price-action tells us the buyers and the
sellers BOTH tried to get this to breakout of this trading-range and was
unsuccessful. We can assume now that the
buyers are going to try and re-test the PHOD at 103.96 and possibly higher
later in the session.
multi-day bearish trend is coming to an end, and there is evidence that today will likely be a range-bound trading
session because yesterday gave us higher-highs and lower-lows and then
closed near the session lows before opening this morning back in the middle. This price-action tells us the buyers and the
sellers BOTH tried to get this to breakout of this trading-range and was
unsuccessful. We can assume now that the
buyers are going to try and re-test the PHOD at 103.96 and possibly higher
later in the session.
 |
| Crude Oil 15-Minute |
15-Minute Chart: We can see the buyers aren’t wasting any time this morning pushing
this price-action higher. We can see the
buyers forcing the market up through the resistance zone at 103.08 on its way
higher to the next zone at 103.58. If
this buying pressure continues we should see a close above the 103.29 and then
look for more buying opportunities with a profit-target at 103.58.
this price-action higher. We can see the
buyers forcing the market up through the resistance zone at 103.08 on its way
higher to the next zone at 103.58. If
this buying pressure continues we should see a close above the 103.29 and then
look for more buying opportunities with a profit-target at 103.58.
Overall, we can see that today is likely to be a range-bound
market personality, with a clear bullish tone in the short term this
morning. When trading Crude Oil we will
stay with the short-term trend and always be on the lookout for a price-reversal.
market personality, with a clear bullish tone in the short term this
morning. When trading Crude Oil we will
stay with the short-term trend and always be on the lookout for a price-reversal.
