day trading strategy using crude oil futures and euro currency futures

Our day trading strategy this morning revolves around crude oil to begin with, and we thought we would see contract rollover but the volume has not increased enough on the next front month 03-12 contract.

This is concerning because now botht he 02-12 and 03-12 contracts are sharing volume between the two, so neither of them have much volume.  We also know there is no inventory data today so we assume trading will be on lower than estimated volume this morning.

We begin our day trading strategy using the dollar index specifically the 13-range chart because its the best timeframe for intra-day trading strategies.  We need to use this to find major turning points and the short term trend.

We can see the bearish price channel confirming the short term trend is down, so we look for buying opportunities on the markets we trade with this downtrend.  Remember this is short term so this can change with higher highs and higher lows, so keep an eye on the dollar index.

Our trading strategy on crude oil futures begins with the 89-range chart so we can see the big picture.  Crude Oil futures tell us to sell the wedge highs and look for price to tumble back down into the
previous day’s trading range. If price keeps going higher we have higher risk pullbacks we can buy, take profit at the next wedge highs.  Sell the range highs and the wedge highs.

We took some winning trades early today, this one was called well before it triggered with exact entry, stop and target for members and guests to trade along.

Our trading strategy on crude oil gets much more specific as we use faster timeframes, such as this 34-range chart.  Notice the bull channel so the highest percentage trade will buying the lows of the channel at 101.00 or if it keeps going lower buying at support just below at 100.53.  If we go below 100.53 we sell retracements down to the next major support of 100.18.  Then getting back into a retracement below 100.00 but beware the big magnet of 100.00 so look for the perfect pattern to get short below 100.00 down to 99.48 the next major support and PLOD.

If price rises we then sell the wedge highs and the resistance levels above the wedge at 102.12

The Euro currency futures trading strategy revolves around the bear channel and the previous day’s trading range.  Sell the channel highs, and if price rises higher sell the resistance above the channel highs.  I want to sell below the PHOD with the target of the PLOD.

CRUDE OIL UP-DATE!  We want to sell crude oil with a retracement below 100.53 with the idea of breaking the channel lows, and also violating the 89range trigger zone which is major support.  Below 100.53 we have two technical patterns on slower timframes failing.

The mini-russell day trading strategy has shown us concern.  This is a low volume, sideways range type of day with price action in the middle of Tuesday’s trading range.  We want to sell the highs and buy the lows of the range, looking for the market personality to improve dramatically.