Thursday, May 15, 2014

Crude Oil Futures Day Trading Strategy; Buying with the profit taking

Crude 8JJ Bar
I am watching Crude Oil fall below the BMT's and clouds for a nice bearish sell off.

I am waiting for price to get down to 101.32 and 101.09 to buy it back up for a profit taking rally on the shorts.

If it continues lower, I will continue to look for WAVE Patterns down with the selling pressure.

The targets to the upside are going to be first at the cloud at 101.60-101.75 and the BMT above that at 101.82 with the overall target back to the highs at 102.19.

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