TradeApe

Oil Analysis - Playing the range

FX:USOIL   Crude Oil (WTI)
May's been nothing but ranging so far. Not difficult trading, but also not really exciting...buy around support levels, sell around resistance levels. H1/H4 DMI             is really helpful in that regard.

I'm only taking longs as I'm still in some longer term longs from below 55. I'm out of all longs below 57.75. Got really close last week and almost got kicked out of everything. Higher timeframe DMIs are mostly long (still). Eventually this ranging will end and it'll break out.

If you aren't already in a trade, simply play the ranges until that fails at which point you can switch over to your breakout/trend strategy.
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