April 13, 2012
- in Uncategorized by schooloftrade
Crude Oil day trading strategy
Crude Oil futures trading in a bear price channel and a bear
price wedge so naturally we want to sell as the higher percentage trade. With the dollar index correlation we know
that the dollar index is rising so we want to sell retracements and sell at resistance
on Crude Oil and the technical price structure with the bear price channel tells
us the high-percentage trades will also be short selling. This works great together so all we need is
to find resistance to sell.
price wedge so naturally we want to sell as the higher percentage trade. With the dollar index correlation we know
that the dollar index is rising so we want to sell retracements and sell at resistance
on Crude Oil and the technical price structure with the bear price channel tells
us the high-percentage trades will also be short selling. This works great together so all we need is
to find resistance to sell.
If price rises higher we will sell the price wedge highs and
the 104.24 PHOD as a transitional area. If
price moves above the PHOD we will buy pullbacks only with strong buyers, and
we will be looking for the fake-out breakout considering the dollar index correlation
tells us to look for selling opportunities.
the 104.24 PHOD as a transitional area. If
price moves above the PHOD we will buy pullbacks only with strong buyers, and
we will be looking for the fake-out breakout considering the dollar index correlation
tells us to look for selling opportunities.
If price moves lower we need to beware trading in the middle
of the price wedge and the 102.91 will be support. The best way to sell short this morning will
be to sell retracements off the highs of the range, so in the middle it may be
too sloppy for us to enter a trade. If price
moves below the 89range trigger-line at 102.91 then we know to considering
re-entering the short side to take down to 102.45. I will buy the lows of the range and the
AB=CD Support areas below us price falls the far this morning.
of the price wedge and the 102.91 will be support. The best way to sell short this morning will
be to sell retracements off the highs of the range, so in the middle it may be
too sloppy for us to enter a trade. If price
moves below the 89range trigger-line at 102.91 then we know to considering
re-entering the short side to take down to 102.45. I will buy the lows of the range and the
AB=CD Support areas below us price falls the far this morning.
Big clue from Crude Oil comes from the 55 range
chart, where we are trying to break the trigger-zone resistance around 103.30
area, and if price moves higher through this major resistance we know then the
buyers are too strong and the price channel highs will likely break and we will
buy pullbacks above the PHOD with targets will 105.00, 105.18 and 105.70 resistance
overhead.
chart, where we are trying to break the trigger-zone resistance around 103.30
area, and if price moves higher through this major resistance we know then the
buyers are too strong and the price channel highs will likely break and we will
buy pullbacks above the PHOD with targets will 105.00, 105.18 and 105.70 resistance
overhead.
