Hi Traders,
A lot of time has spended trying to study the price action of Oil, i lost much money trying different complex strategies, but finall i found i have to return to simplicity methods, so i use the following:
1. SMA 13
2. Pivot, resistance and support daily levels.
3. Momentum indicator.
First, i look to Pivot level, is price over (under) pivot and momentum above +100 (-100), so i am in buy (sell) mode,
then i check SMA, to specify entry point which should be completely above (below) the SMA.
A lot of time has spended trying to study the price action of Oil, i lost much money trying different complex strategies, but finall i found i have to return to simplicity methods, so i use the following:
1. SMA 13
2. Pivot, resistance and support daily levels.
3. Momentum indicator.
First, i look to Pivot level, is price over (under) pivot and momentum above +100 (-100), so i am in buy (sell) mode,
then i check SMA, to specify entry point which should be completely above (below) the SMA.