Jobless Claims drop, Crude Oil Pops buying pullbacks +175ticks

This has been an incredible week of trading in our live trade room, and today we earned over 175 ticks of profit trading Crude Oil and E-Mini-Russell.  This morning we started with clues from the news at 830am, the we used the heat map from our morning prep to find the best direction, and finally we got the perfect entry triggers using the PHOD on both Crude Oil and E-Mini-Russell.

The first clue this morning was the news, jobless claims were scheduled for 830am EST so we knew right away that the morning would most likely get started quickly, so we needed to be prepared.  Further digging into the news today and we saw the Ben Bernanke was scheduled at 930am EST and then we have a major news report at 100pm EST with the Fed’s Budget Statement.  These news events told us many things;  first, get in early and be ready to trade at 830am EST.  second, expect the price action to get a little challenging around 930am when traders sit on hands listening to Big-Ben, and third, make sure we keep an eye on the TIME because the market personality will change drastically when we get closer to the 1100am EST timeframe ahead of the news this afternoon.  Looking back over our results today you can easily see this was exactly what happened.

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