wedge pattern on crude oil futures so lets wait a moment

im using my 4 range chart to define a simple wedge pattern, which gives me 2 basic opportunities...

1.  i can trade the breakout, which means i need to wait for price to move above 76.68, with a final target of 77.15

scalpers, im going to use a standard +5/+10/+Runner for this type of trade management and bring questions to members training on wednesday for more detaisl.

2.  my 2nd option is to play inside this wedge, which we LOVE to do because it makes our trade management very simple.

the idea is simple; buy the lows and sell the highs of the wedge, avoid the middle, and take profit at the edges.

i need the market to rise a little, test the highs of the wedge at 76.40, and then give me a reversal pattern entry somewhere around 76.28.  it can be lower, but remember to avoid the middle, so my entry needs to be above 76.10 or we risk being chopped up in the trade.

if we dont test the highs lets wait for the lows to be tested with an ideal entry above 75.80.  dont be afraid to buy this level even after we've broken the lows, tested 75.71, and then reversed back up into this wedge pattern (see the illustration on the chart).

im looking to buy the lows of this channel with a final profit target of 76.50 if we can get this trade to break out of the wedge highs.  make sure you take profit around 25, dont get greedy.

remember guys, im going to review all of these on Wednesday, and send me questions via email if you have them.