Grab The Reversal On New Crude Lows

Crude Oil Futures:

– Crude oil futures on the 13-range chart is setting up for a reversal pattern off these new lows.

– We call this the fast track method using the 2-step reversal pattern, and will use entry above 76.07 (big round number) with target of 10 ticks and a stop of 10 ticks

– We can also use a simple day trading strategy with this as well

– Entry long above 76.07 with profit targets of 19, 30, and then all the way up to 60 for the final target (Friday’s HOD)



Day Trading Crude Oil Long



Crude Oil Futures Up-Date:

We took our final profit at 76.25 and we are flat this crude 2-step Long for a total of 60 ticks or $600usd on this winner.

Congrats to all the members and guests who made money with us in the live trade room today!

Now over 180ticks of profit on only 4 trades

– We took another 45 ticks of profit on the 2-step reversal on crude oil futures 13-range chart

– Now we have the market going sideways, and defined our new trading range, which will tell us what to do next on the crude oil futures market

o Range is from 76.35 down to 75.70

o I will sell the highs of 35 and buy the low of 75, trading with a scalp or day trade entry inside this trading range

o If we do break out of this trading range I will buy above 35 and sell short below 68 using a simple breaker pattern (trend continuation pattern)



Crude Oil Futures Sideways Markets



– We see crude oil break those new lower lows and gives us a chance to sell with the new short term trend short.

o Entry short for the fast track method traders will be < 75.52, with a 10 tick stop and 10 tick target

o Day traders and scalpers will also enter short < 75.52 with targets of 5/10/Runner or discretionary targets for day traders of 40, 25, and then big round number of 75.05



Crude Oil Futures Short the Lows