March 27, 2012
- in Uncategorized by schooloftrade
Crude Oil futures day trading strategy
We have a lot going on with Crude Oil this morning. The 89 range chart shows me the major price
wedge structures from the major swing highs and lows. We see the long term bear price channel and
the bear price wedge structures, as well as the double-top and the trigger-zone
above and below.
wedge structures from the major swing highs and lows. We see the long term bear price channel and
the bear price wedge structures, as well as the double-top and the trigger-zone
above and below.
We have a lot to consider on this chart, but a wise trader
always find the most important levels above and below to plan their trades
today. There’s only 1 level above and 1
level below, with only 1 most important structure so let’s find those and focus
on the most important info.
always find the most important levels above and below to plan their trades
today. There’s only 1 level above and 1
level below, with only 1 most important structure so let’s find those and focus
on the most important info.
If price rises we go above the PHOD so we are trading OUTSIDE
DAY so we will use a specific trading strategy. As price rises we can buy pullbacks above the
PHOD as the buyers will be in control, however, we need to keep a close eye on
the highs of the price wedge because it will be strong resistance.
DAY so we will use a specific trading strategy. As price rises we can buy pullbacks above the
PHOD as the buyers will be in control, however, we need to keep a close eye on
the highs of the price wedge because it will be strong resistance.
We want to sell the price wedge highs and the
price channel highs inside the trigger-zone resistance overhead. So we wont have much time be buying, so look
for the right buying opportunity not too close to the overhead resistance.
price channel highs inside the trigger-zone resistance overhead. So we wont have much time be buying, so look
for the right buying opportunity not too close to the overhead resistance.
If price falls lower we are below PHOD so
sellers are in control, so we are selling retracements on the way down below
the PHOD. Trying to avoid the middle of
the range between the PHOD and the PLOD and then buying the PLOD as support,
and if price moves below the PLOD we then sell retracements as the sellers are
back in control.
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| Crude Oil Day Trading Strategy |
