Tuesday, May 6, 2014

Crude Oil Futures Day Trading Strategy; buying the low of day

Crude 60-Minute
Crude Oil is attempting to push up to the wedge highs but has yet to actually test those highs. As we are so close, price will begin to draw price closer and should magnetize price up from here. Now that we have come down to test the previous swing I am looking to buy this market higher to revisit the highs and go through them to physically test the wedge highs before we start looking for shorts back down again.

Crude Entry Chart
Crude Oil pushed down to the daily low back at 99.34 where price rejected it to the tick and bounced higher up. This move higher blew through the weekly level at 99.47 and the BMT's for a gorgeous WAVE Pattern Long with our entry right back at the BMT and weekly level for a solid move higher into our targets above! These are the types of trades we take every day in the trade room, so be sure to check out the trial!

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