Trading A Day of Reports in the Crude Oil Live Trading Room

Trading into reports can be hazardous to your trading account health and often it is best to stay on the side lines and wait for the best situations to trade into.  In fact often the best trading ability is demonstrated by your ability to not trade when it is the wrong time and pattern. This is where the room can help out a lot because we have very experienced traders in the room who can help with this.

Many traders reported excellent days again in the live trading room and I was able to trade a near 100% win rate today.

On the open, there was an open range below and so I was looking for shorts according to our rules with cycling.  We came up into the area of the over night high and failed to tag it. This was immediately followed by and extension that took out three previous swings all in one run.  That pattern looks like this:

taking out swings in one run
Identifying bearish patterns...

I then looked to hop on the next high volume bar with trend with an opposing bar proceeding (see the rules page for more on this).

We got the high volume encompassing bar and I (and other members) sold it.  This was my first trade of the day and it was done mostly because there was an open zone below and I was trying to get caught in a runner trade into that region.

Later I took several trades stabbing at the continuation move into the lows until it ultimately failed.

Trading into an open zone...
Trading into an open zone...

Today had both the crude inventory report and the FOMC statement so it is important to control risk tightly and go with the cycling and trend patterns following these key times.

Be sure to visit our live trading room tomorrow for advanced learning and excellent trading opportunities and how to trade crude oil.   Today's range suggests there will be good potential for opportunity tomorrow.

See you there!

For today's room chart click here.  Room charts are context free and do not have the benefit of the above analysis

Past Performance is not necessarily indicative of future results.

 

 

4 thoughts on “Trading A Day of Reports in the Crude Oil Live Trading Room”

  1. Hi Rob,

    Thank you for this update and the chart of the day and showing your performance for the day. Amazing job! I wanted to ask you what the significance of vertical red & green solid bars on the chart – do they depict some kind of trend?

    Thanks
    MJ

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