March 20, 2012
- in Uncategorized by schooloftrade
Crude Oil trading inside the range from Monday & price wedge structure
Crude Oil day trading strategy uses the bear price channel and
the price wedge to give us big clues for our trading this morning. We can see we’re trading inside the range
from Monday, so PLOD and PHOD are magnets and excellent places to look for
trading opportunities.
Our day trading strategy for Crude Oil is going to be a
challenge, considering we are currently in the middle of the range around
107.00 if price moves lower below PLOD we
typically will sell retracements however this morning in the middle of the price
wedge we need to use caution. Id much rather
trade the highs and/or the lows of the price wedge or the price channel than
the middle.
challenge, considering we are currently in the middle of the range around
107.00 if price moves lower below PLOD we
typically will sell retracements however this morning in the middle of the price
wedge we need to use caution. Id much rather
trade the highs and/or the lows of the price wedge or the price channel than
the middle.
If price rises higher I’m looking to sell the price wedge and
price channel highs, but if price moves lower we may have to wait. We need to get below the trigger-zone support
of 106.95 and then start selling retracements looking to take profit at the
support levels below us at 106.60, and then getting back in short below 106.50
with another target of 106.00 and then below 106.00 we sell retracements down
to the 105.31 and the lows of the price wedge.
price channel highs, but if price moves lower we may have to wait. We need to get below the trigger-zone support
of 106.95 and then start selling retracements looking to take profit at the
support levels below us at 106.60, and then getting back in short below 106.50
with another target of 106.00 and then below 106.00 we sell retracements down
to the 105.31 and the lows of the price wedge.
Last but not least we open the 13 range on Crude Oil and
refine our day trading strategy using the short term bear price channel and the
PLOD. If price breaks lower we buy the
lows/support of the price channel and buying when price moves back above the PLOD. If price keeps moving lower we wait to get
below 106.95 to get short selling retracements.
refine our day trading strategy using the short term bear price channel and the
PLOD. If price breaks lower we buy the
lows/support of the price channel and buying when price moves back above the PLOD. If price keeps moving lower we wait to get
below 106.95 to get short selling retracements.
The hardest part of Crude Oil this morning is staying
patient.
patient.
