April 16, 2012
- in Uncategorized by schooloftrade
Crude Oil futures day trading strategy
Crude Oil futures trading in a major bear price channel,with a bear price wedge price structure and inside the range from Friday. The price action just recently re-entered the
range from Friday so we want to buy pullbacks when the buyers push price above
the PLOD for the first time.
Remember if the price action on Crude Oil trades above or
below the PLOD this tells us a story, and we read that story to make educated
trading decisions.
below the PLOD this tells us a story, and we read that story to make educated
trading decisions.
We can see the price wedge price structure is veryconcerning as we are in the middle of the range, so expect sloppier price
action this morning until we get to the highs or the lows. The bear price wedge tells us the high-percentage
trades come selling at resistance overhead.
The most important price structure clue we getthis morning is from the price wedge. We’re
in the middle right now so the high-percentage trades will come buying the lows
and selling the highs of the price wedge.
