Crude Oil day trading strategy prep:

We can see
the short term trading range in the yellow rectangle along with the 2 distinct price-wedge
price-structures which tells us to treat this market personality as a range-bound
market.

A price-wedge
and a sideways-trading-range along with an inside-day I begin to think this
morning will be a range-bound market.  When
we find a range-bound market we buy-the-lows at support and sell-the-high at
resistance.

If price
moves higher this morning we will be selling the highs of the price-wedge and
the trading range as resistance starting at the PHOD 88.29, 88.39 and
88.53.  If price moves above 88.53 we are
looking for a fake-out-breakout and then sit-on-hands and wait for the selling
opportunity at the highs of the price-wedge and the resistance around 89.18.

If price
trades sideways this morning we will sit-on-hands because as of NOW price-action
is not at the highs or the lows of the range. 
We will sit-on-hands and wait for the buyers to test the highs (so we
can sell) or test the lows (so we can buy).

If price
trades lower this morning we will sell short using a wave-pattern-short and
breaker pattern short as it appears the buyers did indeed attempt to breakout
above the PHOD and they failed.  The sellers
will take a profit-target at the price-wedge lows and the support at the PLOD 87.27.  if price breaks new lower-lows below 87.27 we
will look for the fake-out-breakout as this is a price-wedge structure, and
then sell retracements with a wave-pattern-short below 87.27 once we are
certain the buyers have lost control.  If
we can get down to 86.71 we have major support waiting for us, and we will take
a profit-target and then look for buying opportunities at 86.71 because this is
a price-wedge and price-action will be looking for support to hold.