Trading on Multiple Crude Oil Trading Charts Crude Oil Day Trading Strategy
5 Minute Day Trading Strategy Guide
Day Traders
This group of oil day trader holds on to their crude oil trades for a few hours but not more than a day. With the objective to make quite a number of pips, 30 to 100 pips.
Day oil trader trading 15 minutes oil chart time frame wants to go long, checks 1 hour oil chart time frame, which looks like the one below, since 1 hour oil chart time frame shows market oil trend is going up, then decides from this chart technical analysis it's okay to buy.
Crude Oil Day Trading on Multiple Crude Oil Trade Charts – How to Use Crude Oil Trading Chart Timeframes - 5 Minute Day Strategy Guide
Oil day trader traders using technical analysis use oil charts to try & attempt to predict the movement of crude crude oil price on the crude crude oil charts.
Oil Day traders will sometimes use two or more oil chart time frames so as to determine the long term oil trend & short term crude oil trend.
How to Define A Oil Price Oil Trend for Day Trading
Using a oil system that has Three indicators - Moving Average Crossover System, RSI & MACD and using simple rules to define the crude oil trend. The trading rules are:
Upwards Oil Trend
Both MAs Moving Up
RSI above 50
MACD Above Center line
Downwards Crude Oil Trend
Both MAs Moving Down
RSI below 50
MACD Below Center line
Multiple oil charts timeframes analysis equals using 2 chart time-frames to trade oil - a shorter oil chart timeframe used for trading and a longer chart timeframe to check the oil trend - chart time frames that you choose for crude crude oil price action with will depend on the type of trader you are: for day traders the chart time frames used for trading will be an example of 15 minute oil chart time frame and 1 hour crude oil chart time-frame.
Since it is always good to follow the oil trend when oil Day Trading, in Multiple Chart Timeframe Analysis, the longer 1 hour oil chart time frame gives us the direction of the long-term oil trend when Day trading using the 15 Minute Crude Oil Chart Time-frame.
