March 6, 2012
- in Uncategorized by schooloftrade
Day trading strategy for Crude Oil and euro futures
The day trading strategy for Crude Oil uses the 89 range
chart first for its ‘anchor’ chart to see the most important levels of support
and resistance along with any major advanced price-structures. We can see a double-top which gives us
support at 104.21, 102.32, and Max extension double-top support at 99.87.
chart first for its ‘anchor’ chart to see the most important levels of support
and resistance along with any major advanced price-structures. We can see a double-top which gives us
support at 104.21, 102.32, and Max extension double-top support at 99.87.
We draw trend lines off the swing-highs and trend lines off
the swing-lows and we find a short term price wedge. The lows of the price wedge are just below
the PLOD so look for the crude to push below the PLOD (turns into an outside
day) and then bounce off the price wedge support at the lows and then head back
up. When we get price back above the PLOD
after bouncing off the price wedge lows we NEED TO TRY TO BUY the lows.
the swing-lows and we find a short term price wedge. The lows of the price wedge are just below
the PLOD so look for the crude to push below the PLOD (turns into an outside
day) and then bounce off the price wedge support at the lows and then head back
up. When we get price back above the PLOD
after bouncing off the price wedge lows we NEED TO TRY TO BUY the lows.
The 89 range chart on
the Crude Oil tells me to buy the price wedge lows and sell the price wedge highs,
using the PLOD as an electric level, buying back above it, and selling when
price moves below it. One thing we need
to remember is that we MAY sit sloppy and sluggish on top of the PLOD considering
the dollar index market personality this morning is quiet, so keep that in mind
as the day progresses.
the Crude Oil tells me to buy the price wedge lows and sell the price wedge highs,
using the PLOD as an electric level, buying back above it, and selling when
price moves below it. One thing we need
to remember is that we MAY sit sloppy and sluggish on top of the PLOD considering
the dollar index market personality this morning is quiet, so keep that in mind
as the day progresses.
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| crude oil 89 range |
The 55 range chart on the Crude Oil futures shows me a lot
more detail, specifically another double-top which provides more support below
us, along with the trigger-zone and the short term price wedge.
more detail, specifically another double-top which provides more support below
us, along with the trigger-zone and the short term price wedge.
The day trading strategy is the same for Crude Oil, we want
to buy the lows/support and sell the highs/resistance of this price wedge.
to buy the lows/support and sell the highs/resistance of this price wedge.
 |
| crude oil 55 range |
Euro currency futures day trading strategy uses multiple
timeframes and we can see the bull price channel and the major support at
1.3116 and we will use the dollar index correlation with the euro market at
these lows. If the dollar index moves
higher we will see the euro move lower and we can sell retracements below the
1.3116 after looking or the sellers to fake-out breakout first.
timeframes and we can see the bull price channel and the major support at
1.3116 and we will use the dollar index correlation with the euro market at
these lows. If the dollar index moves
higher we will see the euro move lower and we can sell retracements below the
1.3116 after looking or the sellers to fake-out breakout first.
The challenge for the euro is the lows of this price channel
is telling us to buy, and the dollar index is going higher, making price fall
lower. This is a big concern because our
trading plan wont allow us to trade short into support, so we need to buy at
these lows only, and sit on hands waiting for the sellers to push new lower-lows
and then the sellers fail and we can buy the failure and bring it back up.
is telling us to buy, and the dollar index is going higher, making price fall
lower. This is a big concern because our
trading plan wont allow us to trade short into support, so we need to buy at
these lows only, and sit on hands waiting for the sellers to push new lower-lows
and then the sellers fail and we can buy the failure and bring it back up.
 |
| euro day trading strategy |
The euro is sitting on the price channel lows and we need to
buy the lows/support of the price channel.
If price falls we need to beware trying to sell into these lows, so wait
for the new lower-lows and then look for the sellers to fail, using the 8range,
13range and 21range charts for price reversals patterns such as a 2-step long
to buy the lows.
buy the lows/support of the price channel.
If price falls we need to beware trying to sell into these lows, so wait
for the new lower-lows and then look for the sellers to fail, using the 8range,
13range and 21range charts for price reversals patterns such as a 2-step long
to buy the lows.
