Crude Oil Day Trading, using QM 04-13 E-mini Futures

Crude oil Chart

Crude Oil day trading: Big Picture of Why I was preparing for this trade.

This trade have some risk, both reward can be amazing. If you are like me, and you miss your entry at 98$, there a second chance. I’m looking for another Bearish Channel. But for this,sellers need to win this fight at 91$.(consolidation zone #2). If this happen, I’m looking for Weekly chart creating a bearish channel.

Why Sellers have more chance to make it this time?break the lower trend line? Well if you look at MA50 and MA200, they are creating a divergence and are very close to each others. and will create a better Support for Sellers. And if you look on volume, Buyers volume drop almost by 50%, and can’t beat Sellers last Spike of volume few days ago. What you need to look for is if buyers volume stay in same range, and if Sellers can keep same commitment as before.

day trading oil

Crude Oil Day Trading: Great Opportunity for Short Trade Soon

This is what I was looking since last week and mention about. Sellers show there are here at my “small resistance”,Sellers let buyers go back to 50MA, and did not let buyers close above 93.45 prices/50MA . I personally would prefer if buyers had a chance to go back to the 200MA and close under 50MA, but we deal with what market give us. We also made 50% retrecement from last move, and buyers volume stay low, actually lower every time than previous move up.

If you take Short trade, make sure you sell your 1st target as soon, we get in consolidation zone at about 91.81. At this point manage your risk. My consolidation zone #1 , should not be a big problem to sellers, is the consolidation zone #2, we should watch for.

Direction: SHORT

Target Short Term:  1St- 91.81      2nd- 91-92     3rd- 90.47

Volume:  Since we finish at Buyers volume, Sellers need to get in the market and end with at least 6000k volume.

*There a little chance, to see buyers try one more time to go back at MA200…one of the reason, we just pass my “small resistance” and it can help buyers for little bit.As I always say, before take your trade be patient and always watch who’s in control.

PS:Market are not easy to trade with everything what it happen. If you decide to take any trades, be aware of your risk.