The weekly report covers WTI Crude Oil Futures, using investing.com for charts, Heikin Ashi 5-min and 1-min for candlestick patterns, for trading I use Futurepivots and one hour support and resistance lines.
This all helps me create my day trading strategy that revolves around futurepivots and the support and resistance lines.
Futurepivots are two lines that I work out upon the close of the market I add them to my charts just before UK open 8 am.
1-Hour Support & Resistance Lines
I add these to the chart at the same time as the future pivots, how I work these out is simple just set the time frame to 1 hour still using Heiken Ashi candlesticks zoom out, and identify areas that are support or resistance.
Past Results and charts.
Below are the results for this week’s price movements so you can check for yourself for reference.
- 09/08/21 No trades taken Charts and price range
- 10/08/21 No trades taken. charts and pivot lines click here
- 11/08/21 No trades taken Charts and Pivots click here
- 12/08/21 Three trades made. Charts and pivots Click here
- .13/08/21 No Trades taken. Charts and pivots click here
My trading journey is now evolving, even though it’s only two weeks of recording my day trading journey of crude oil. I can now see why and where I am going wrong and I am changing the plan slightly with every day that passes.
I’m just glad I am still using my Demo account, I suggest everyone uses it first. Learns how to trade makes mistakes with pretend money.
Then once you can prove it works you can start trading with real money.
So watch this space once I have a proven tried and tested strategy I will start to progress with the site and my trading.
Putting a trading plan together for all to follow.