day trading crude oil inventories news +100 ticks

We began the day with a simple day trading strategy; we expected the markets to be a little sluggish without any major news until 1030am EST this morning, but we knew that the news at 1030am would be worth waiting for.

We used our simple day trading strategy this morning to earn over 145 ticks of profit, 125 of those ticks were earned AFTER we saw the news released at 1030am EST.  This was pretty much exactly as we expected this morning.

By 930am EST on Tuesday we had earned over 100 ticks of profit, but today (wednesday) the markets were very different, apparently waiting for the news to be released before they started giving us decent trading opportunities.

This morning we began with a BIG clue from the dollar index, a very narrow sideways trading range, and market personality that told us to be very patience at the start of our day.  This clue was vital to our success this morning becuase it told us to stay patient, which we did and avoided over-trading the beginning few hours of the day.

Dollar Index Trading Strategy 730am

Our day trading strategy for crude oil futures was simple; use the price wedge and the previous high of day as selling opportunities, and use the news at 1030am est as a possible reason to sell the highs of the price wedge, and then get in again below the PHOD.  This trading strategy worked out very well for us.

Day Trading Strategy Crude Oil @ 730am

As you can see from the chart below, which was posted in our morning prep at 730am EST today, we knew we wanted to sell the highs of the wedge, and also sell below the previous high of day if we got below the 99.00 level (which was major support/resistance).

The entire morning was sloppy around the big round number of 100.00 but then the news came out at 1030am EST and it was very bearish so we knew to look for selling opportuities using our simple day trading strategy.

By 1100am EST this morning we had successfully sold off the highs for a few monster-winning trades just as we had anticipated at 730am EST.  Another day of profitable trading in our live trade room!



Sell the highs day trading strategy

Did you miss the action today?  Come see us tomorrow @ 730am EST when we re-open our live trade room for members and trial-guests.  Remember, we are open for guests until 1130am EST then we close it up for only members so get in early and ask lots of questions!