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Crude Oil Day Trading October 25th 2016

Crude Oil Day Trading

I am feeling a little like Charlie Brown when Sally pulls the ball away on my day trading. I was able to get back to even on my trading session today, but I was bounced around like a yo-yo.

On Friday, I allowed myself to go red after fighting my way almost back to even on the day trading session.

Today, I was able to go up 12 ticks overall on the trading session, but I had help from the market when I caught the market short 5027 at 10:26AM CST. The trade exit was at 4978 at 11:22AM CST.

The market went down to the Fibonnaci Extension area 4965 (see chart below). Anyway, I feel lucky to have been able to get out of the swamp today. I was caught inside a non-trending day both on Friday and Monday before the breakout below the 50 dollar a barrel level today.

Futures Crude Oil Day Trading Charts: FTP Trading Account Summary (Friday)

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Futures Crude Oil Day Trading Charts:

Crude Oil Day Trading

What a day trading session … I kept thinking the market would break below the $50 a barrel a lot sooner than when it did today. I was down more than I care to admit during my day trading session.

I was fortunate to be able to catch the short from 5027 with an trade exit at 4978 when I bracketed 4967 to 4977. This was the Fibonnaci Extension that I am showing on the 15 minute chart from above.

We kept retracing back and back again, but finally the market gave up the ghost after we went back to a key Fibonnaci Retracement area allowing an opportunity to short the market one more time. It was simply a game of who blinked today, but eventually all I was looking at was to get short.

By this I mean, every long signal today was a trap … the market did not play fair, but it did allow for me to get back my trading loss during the trading session.

Augh!!

 

Good Trading,

David M. Knight
TradeCraze

P.S. Click the Link on the Right to see the Gann 4th Time Through video!

 

 

 

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.