How to Day Trade the 1 Minute Oil Chart Using the 200 MA for Support and Symmetry for Resistance.
A Simple Step by Step Intra Day Trading Guide from our Oil Trading Room and Alerts Service.
Below are my top trading rules (steps I take in my strategy) when daytrading crude oil on the one minute time-frame. It has worked for me over the years and I am sure you will find it a highly profitable way to day-trade oil.
1. The Price Trend of Trade is Your Friend.
- If you are going to day trade oil long be sure oil is in a rally. In this case oil has been rallying for a number of days and today oil price continued to rally. In this instance, the trend is on your side so it is obvious that your highest probability day trades scalping crude oil futures will be long buy entries.
- Today’s News – Stock market live updates: Dow up 400, oil rallies 18%, Norwegian dives 18% https://www.cnbc.com/2020/05/05/stock-market-today-live.html
2. Price Dropping in to The 200 MA on One Minute Oil Chart.
- Chart from the Oil Trading Room and Alerts feed shows the set-up intra day for the 200 MA scalp, “On the 1 minute time frame 25.15 200 MA is attractive test for a crude oil day trade pop up scalp – trading 25.68. #oiltradealerts” The white arrow on the chart points to the 200 MA on the 1 minute time-frame (200 MA in pink).
3. Execute Your Long Trade when Price Hits the 200 MA (Moving Average).
- The screen image capture of the oil trading alerts feed show oil price bouncing off the 200 MA signal, day trade is now in play.
- “Nice 40 point move on that crude oil daytrade set up on the 1 minute time frame, I didn’t take it, first extension resistance here. #oiltradealerts”
4. Take Profit as You – Go Based on Your Trading Plan.
- Oil trading room live image below shows first price target hit, symmetrical price extensions, and a point to trim profits in your long trade scalping crude oil #oiltradingroom
5. Technical Analysis Helps Plan Your Oil Trading Strategies.
- Below is a one minute oil chart with symmetrical price extension price targets so our oil traders know where to trim profits along the way while daytrading oil.
6. Use an Oil Trading Strategy – A Plan.
- The image capture of oil trading room shows the 3 price targets for our trading strategy with this trade intraday #oiltradingstrategies
- At point of writing this article, the move on this oil trade alert intra-day is now 80 points, this is a fantastic day trade strategy for oil traders. Knowing where your price targets are and knowing how to measure the symmetry for price extension price targets will really help your strategy.
Technical indicators or signals really help retrieve more profit in each trade and also help with your winning percentage of trades.
There are many other signals that you can use for any oil day trade, including the trade outlined in this article. Some of the other indicators or trade signals include order flow, time of day, resistance and support on larger time frames such as the 5 minute, 15 minute or 30 minute chart time-frames and many more.
The price extensions in this article are part of a proprietary one minute oil trading grid model that our machine trading uses. There are many ways to set your price targets, some use conventional charting methods and some algorithmic (or proprietary models as in this instance).
Hopefully this tutorial on using the one minute oil chart 200 MA as a signal for day trading (scalping) trades has helped. It is an intra-day strategy that has worked for me in my trading time and time again.
You should find implementing this simple crude oil intra day trading strategy that your win rate and returns will excel.
If you liked this article there is another day trading oil strategy article I wrote here.
Oh, and by the way, while I am finishing up writing this article oil is getting near the upper price target for this day trade and I just alerted the oil trading room and our alert subscribers to take profits. Nice Trade!
My goal is to build the best oil trading room and oil trading alerts service in the world for oil traders – obviously a tall order, but we’re getting there one step at a time.
Any questions please send me a note via email [email protected]
If you would like to learn more, click here and visit our Crude Oil Trading Academy page for complimentary oil trading knowledge – posts from our top crude oil traders that includes learning systems, blog posts and videos.
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Article Topics; day trading, crude oil, 200 MA, 1 minute time frame, strategy, chart, symmetry, oil trading room, oil trading alerts, simple, intraday, trading strategy