May 31, 2013
- in Uncategorized by schooloftrade
Crude Oil Day trading strategy
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| Crude Oil 15-Minute |
We can see
the Crude Oil price-action trading at the lows of this short term bullish price-channel
with a buy-zone below us at 92.60 area and plenty of room to move higher this
morning up to the highs of the price-wedge around 93.70 area. Notice the 94.15 to 94.60 is the sell-zone for
this bear price-channel. We used Fibonacci
to measure from the A down to the B and that projects the price-channel sell-zone.
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| Crude Oil 13-Range |
The much-faster
13-range entry chart shows us the price-wedge and many levels of support below
us and resistance above us. As we move
lower we have a double-bottom and the major trigger-zone from 92.86 down to 92.59
which will make us look for buying opportunities at this support. If prices move lower we will also look for a price-reversal
and a buying opportunity at 92.21 because it’s the previous week’s low and the
symmetry support and the price-wedge reversal area.
13-range entry chart shows us the price-wedge and many levels of support below
us and resistance above us. As we move
lower we have a double-bottom and the major trigger-zone from 92.86 down to 92.59
which will make us look for buying opportunities at this support. If prices move lower we will also look for a price-reversal
and a buying opportunity at 92.21 because it’s the previous week’s low and the
symmetry support and the price-wedge reversal area.
