June 21, 2013
- in Uncategorized by schooloftrade
Crude Oil Day Trading Strategy
Economic news today:
This morningis Quadruple
Witching Friday, which means today is the final trading day before all
4 asset-classes expire on Saturday. The
result of this will be lower-than-usual trading volume, and a lack of
consistency in the price-action on our charts.
Traders are encouraged to trade lightly this morning, using smaller
contract sizes, and being more conservative with risk-management.
Crude Oil Daily Chart:
 |
| Crude Oil Trading Strategy |
It appears
we were very accurate in our Thursday morning prediction of a sell-off and this
morning we finish up a week of trading with a large GAP in price on the daily
chart with price sitting on top of the 95.43 buy-zone, which was identified
earlier this week. This daily chart
tells us that we are sitting at support on this chart, which means we may see a
rally this morning back higher, or the buyers may fail and this price can keep
tumbling lower back to the 92.00 level.
we were very accurate in our Thursday morning prediction of a sell-off and this
morning we finish up a week of trading with a large GAP in price on the daily
chart with price sitting on top of the 95.43 buy-zone, which was identified
earlier this week. This daily chart
tells us that we are sitting at support on this chart, which means we may see a
rally this morning back higher, or the buyers may fail and this price can keep
tumbling lower back to the 92.00 level.
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