- in Uncategorized by schooloftrade
Crude Oil Day trading strategy
 |
| Crude Oil Daily Chart |
The daily
chart of Crude Oil shows us pushing to the highs of the price-wedge with
bullish candlestick patterns and large wicks at the bottom of the last 2 days
of daily candles. This suggests rising
prices as we go into the bottom-half of the week.
 |
| Crude Oil 60-Minute |
anchor chart of Crude Oil shows us the same bullish price-channel we used to
call a winning trade long on Tuesday morning.
This morning we see that price-action has moved to the highs of a price-wedge
which means this morning may be a challenge for us as traders. The bull price-channel tells us price-action will
want to keep rising, but this trend line in our way may say differently. We know we want to buy pullbacks but this
trend line and price-wedge will most likely make buying pullbacks more
difficult this morning so we will need to be patient on the way higher
today.
 |
| Crude Oil 5-Minute |
If prices do
push higher we expect to see the test of 95.80 and then a possible price-reversal. We will buy pullbacks up to 95.80 and take a profit-target. If prices keep rising we will continue to buy
pullbacks up to 96.15 sell-zone above it for another profit-target. Along the way this morning we will be looking
for the price-action to FAIL to move higher and we will look for the
short-selling opportunity using the highs of the price-wedge. Remember, the high-percentage-trades will be
LONG this morning, but we need to get the bulls pushing HARD for this to work
so be selecting with the trades you get into this morning.
