I have been experimenting crude with different strategies.
The facts about crude are..... it is volatile but unpredictable. It does not respect support and resistances atleast in intraday timeframes.
We need a strategy to tame this unpredictable wild beast.
Bet on direction with a stop loss.
Wait until close of 1st hour. Note the close price of 1st hour.
Add 10 points to this close to arrive at price where we are taking long position.
Subtract 10 points from the one hour close to arrive at price where we are taking short position.
Ex. today's first hour close is 4758 of crude mini.
So, our long entry at 4768 with SAR of 4758.
short entry at 4748 with SAR of 4758.
Keep a target of 50 points.
Unless you hit target, keep rotating the trades until 11 PM. close at 11 PM if target is not hit.
The facts about crude are..... it is volatile but unpredictable. It does not respect support and resistances atleast in intraday timeframes.
We need a strategy to tame this unpredictable wild beast.
Bet on direction with a stop loss.
Wait until close of 1st hour. Note the close price of 1st hour.
Add 10 points to this close to arrive at price where we are taking long position.
Subtract 10 points from the one hour close to arrive at price where we are taking short position.
Ex. today's first hour close is 4758 of crude mini.
So, our long entry at 4768 with SAR of 4758.
short entry at 4748 with SAR of 4758.
Keep a target of 50 points.
Unless you hit target, keep rotating the trades until 11 PM. close at 11 PM if target is not hit.
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