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Crude Oil day trading strategy
trading in a strong bear price channel with a short term bull price channel running
up the middle. We will buy the
lows/support of the bull price channel as the high-percentage trades and sell
the highs/resistance of the bear price channel as a high-percentage trade as
well. We can also notice the short term price
wedge which also provides us with resistance we can use to sell short at the
highs.
and the lows of the price wedge so we’re looking for buying opportunities with
a 2-step long, wave pattern long as the buyers hold this support. If price keeps going higher off the lows we
need to buy pullbacks and try to avoid entering a trade in the middle of the price
wedge around 103.60-104.00. as price
falls I’m buying the PLOD and the price wedge lows. If price goes lower I will keep buying below
the price wedge but once we get below 102.19 then I’m selling retracements because
the bearish AB=CD Pattern has broken and the price will tumble because of that.
This morning we have a very simple day trading
strategy for Crude Oil. We need to buy
the lows/support of the bull price channel while the dollar index tumbles off
the highs. We then will look to avoid
the middle around 104.00 and then sell the highs around 105.00 and the PHOD.