Wednesday, October 2, 2013

Crude Oil Day trading strategy;

Crude Oil Anchor Chart
Crude Oil has been moving lower over the long-term trend with a clear bearish price-channel and lower-lows over the last few weeks.  This long-term trend appears to be coming to an end, with clearly sideways price-action without any new higher-highs or lower-lows and we have drawn support and resistance levels above and below it.

Our day trading plan will be to treat this as a sideways-trading-range which means we want to buy-the-lows at support and sell-the-high at resistance while avoiding trading opportunities in the middle of the trading-range.

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