March 30, 2012
- in Uncategorized by schooloftrade
Crude Oil day trading strategy
We can see the bear price channel, the AB=CD reversal-zone below
us and the double-top support areas all lining up to provide support as price
falls. If price rises higher I’m looking
for the 89range wave pattern short to trigger, and if it does trigger short we
then know to sell retracements on faster timeframes such 21 and 13 range charts. If the wave pattern to the short side FAILS,
we will then wait to buy pullbacks above the 104.35 area when it violates the
high of the trigger-zone.
us and the double-top support areas all lining up to provide support as price
falls. If price rises higher I’m looking
for the 89range wave pattern short to trigger, and if it does trigger short we
then know to sell retracements on faster timeframes such 21 and 13 range charts. If the wave pattern to the short side FAILS,
we will then wait to buy pullbacks above the 104.35 area when it violates the
high of the trigger-zone.
If price moves lower without testing the 89range
trigger-line and giving us a wave pattern short, if price just moves lower than
we need to sell retracements but beware we are in the ‘middle’ of the current
range, and the best trades will be to buy the price wedge and price channel lows
at the double-top support of 102.28 area.
The 103.00 is assumed to be sloppy, right in the middle, so beware.
 |
| Crude Oil day trading strategy |
