CLPIT Strategy PPM Failure Trade

CLPIT Strategy PPM Failure Trade

So what is the best way to trade when you see FOMC Annoucements on the Economic Calendar? By this I mean, you have one of the 8 rate decision meetings that coincidentially also can happen on a Wednesday.

Well, this is my day trading thoughts on this subject as it relates to the Crude Oil Futures Market.


YouTube Trading Video:
Futures Crude Oil Day Trading Charts: The correct entry short (one time) before Pivot was to get short at 5224 today.

I screwed up the opening entry. What I was trying to show today was how quick you can accumulate losses on a market that has something strong in front of it. We had the power and magnetism of the Pivot Point in play today. If you go through the video, then you will see the correct entry and setup at 5269 and the other around 5255 to 5257 area.

This is what you wait for when the Pivot Point is in play. So … marching orders …

  1. It’s ok to take an opening entry when you are far enough away from the Pivot Point to justify an entry.
  2. If the first trade loses, then stand aside and wait until you fail at the Pivot Point to reenter any trade.
  3. If you have an extreme volume number as shown below, then it pays to have a runner on the trade.
  4. If and only if … you have the margin in the account to do so!

Futures Crude Oil Day Trading Charts: Seeing a GANN Setup but Beware of the Pivot Point!

Futures Crude Oil Day Trading Charts: HVS Sky

This is what happens when you see VERY EXTREME movement in VOLUME. There is only way I trade this … SHORT! All we need is to find a correct entry and then look at Loretta and get out of the fast lane Grandma … the bingo game is ready to roll!

Futures Crude Oil Day Trading Charts: Best Play wait for Pivot Point to Retest

Futures Crude Oil Day Trading Charts: Break Point at Pivot Point Today

Futures Crude Oil Day Trading Charts: Crude Oil Taking Profits

Futures Crude Oil Day Trading Charts: CLPIT Profit Potential with Runner Today

Yes, that is 178 ticks on a runner. That means there was a possible $1,780 available to trade to close of the open outcry at 1:30PM CST today.

Futures Crude Oil Day Trading Charts: Crude Oil Day Trading Spreadsheet

CLPIT Strategy PPM Failure Trade

Now, I am not saying my way is the only way to day trade crude oil futures. But, if you are going to trade do not ignore what is happening on the economic front. Either stand aside on the trading day or if you do decide to take on the trading day …

Then realize you may have a very tough trading day on your day trading session. Thanks for watching and don’t forget to subscribe to my YouTube Channel for more FREE stuff I continue to share since 2008.

Good Trading,

David M. Knight

P.S. What is the ONE THING you can do right now to improve your day trading success level?

P.S.S. I recorded this video on December 15th, 2016 on YouTube: Day Trading Thoughts 2016




About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.