Day trading strategy Crude Oil futures

Crude Oil is trading in the middle of a major bull price
channel and we have a double-top coming off the highs giving us plenty of
support levels to work with if price is to tumble this morning.  We can draw trend lines from the recent swing-high
and the recent swing-low to form a price wedge structure that will be a big
clue for us this morning.  If price falls
below the PLOD we will normally look to sell but this morning we can see DOUBLE-TOP
support of 104.21 and the trend line that creates the lows of the price wedge.  As price rises we will look to sell the highs
of the price wedge.

We can see the 34 range chart shows us a new bear price
channel, trading in the lower third of Tuesday’s trading range, and we have a
trend line below us as support.  Remember
the 104.21 level is double-top support just below the PLOD.  The bear price channel tells us to sell the
highs/resistance and sell levels of resistance as price rises as the higher
percentage trades.  As price rises I’m selling
at resistance, and as price falls I’m selling below PLOD but buying the price
wedge and the price channel lows as support.