Crude Oil Trading April 20th 2015

Monday April 20th, 2015:

Two HVS SKY bars show up on the upmove today … will they be the high and turn around today or not? Be patient and wait for a good signal to get in on this trade.

Two Blue HVS Sky Bars:

  1. Blue Bar Volume 1805 at 9AM CST
  2. Blue Bar Volume 1611 at 9:05AM CST

The market had some more up to go before it turned down on the trading session … current market swing high located at 5863 at 9:37AM CST. Market has went down consistently from this point in the trading session.

This trade was a breakeven trade on the trading session. No follow thru at time of trade. Time based stop to breakeven and momentum not carrying the trade at this point in time to warrant to protect!

Market initially showed a very good signal but it had not been up enough to allow the short to win the day.

Market based here and went up to R1 before turning around on the trading session.

Market seems to want to seek the Pivot Point once again … where does it go from here?

Market breaks through Pivot Point do we have a lot more down possible? I think so … but I don’t get paid to think just trade what I see. Right now the market seems to show a weakness on the charts so this is the way I have been trading it today.

Market went back up to take me out of the trade … it didn’t break through the pivot point on the down move ….



Kind Regards and Good Trading,



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.