Day Trading Futures With The Schooloftrade

After yesterday’s rally in the crude oil to $72/barrel, it seems that the sellers re-took control of price today as price has dropped once again to the $68/barrel level. Until the start of the open outcry pits at 9:00am EST, price had really consolidated at the $71-$72 level, but once the opening of the pit, the sellers, with obvious volume, began to take control. The selling pressure was increased as well by the Crude Oil Inventories, which were released today at 10:30am EST and were much more plentiful than expected; causing the price to sell even further into the $68 price level. We were able to take one trade on the crude oil (symbol CL), opting to wait till after the inventories number was release, we were able to scalp 19 ticks, for a total of +$190.00 on 4 Contracts. Let’s review that trade….

Learn How To Day Trade, Best Free Trial Course Available 3 Weeks FREE

Our only trade of the day came on the Crude Oil, (Symbol CL) after the Crude Oil Inventories were released at 10:30am EST. Once the inventories number was released, and there seemed to be an excess of supply in the crude oil market, price began to sell off strongly. Once this push to the short side had begun to retrace slightly, we began to look for a quality set-up to take. The short term trend prior to our trade had been up, retracing off its lows, we began to see the rally weaken, and anticipated that price was going to continue its daily trend to the down side. At 10:56am EST we looked to take the crude oil market short, with a 2-Step; we ended up getting filled with an entry price of 69.24. Once we had entered the trade, the stochastics were already beginning to curl to the short side and we knew price action would soon follow, which it certainly did as more sellers began to enter the market. We were able to take profit quickly, gaining +4 ticks (2 contract), +8 ticks (1 contract) and our final contract we let run for an additional +3 ticks, giving us a total of +19 ticks on the trade ($10/tick) (+$190.00).

Day Trading Has Never Been Eaiser To Lean, Take Advantage Of Our Lifetime Membership

The Schooloftrade now offers Market Prep videos. These videos prepare you for the next day of trading, what to expect from the overall market, and important price levels. Don’t miss out on this crucial information.

Don’t Miss Out To Get Your Hands On Our Free Day Trading Course