Today however, I took advantage of a move on Crude Oil Futures. I took on a short position shortly after the open and definitely had the right timing on this move. Opening the short just over 101.00 and price has traded down through the short term support area of 100.00 to close the day in the 99.50 area. 
On a daily chart this move has moved to break below both the 50 and 200 day MA's, as well as also crossed through the daily supporting trend line. Current my first target will be in the 98.50 area where the next supporting trend line is, with 97.50 as the next area to watch for. As my stop is already in for a guaranteed gain on the account of 1%, I am free to let this trade develop with only profits to gain and nothing to lose. I am watching the longer term chart as well for direction, a close on the weekly candle below last weeks candle would also be a a great sign to stay short on oil for the longer term. But we shall see what the rest of the weeks holds first... This week I am watching the Eur/Aud, GBP/USD, Eur/GBP, and USD/JPY and a possible revers [...] day trading course Learn how to trade
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