Crude Oil Trading on April 7th 2015

Tuesday: April 7th, 2015

Afternoon trading … market up looking for retracement back to at least R1 Support at 5300 at time of short trade. I have made 2 short trades looking for at least 1P on opening contract and have moved to Breakeven plus a couple of ticks on both trading opportunities.

See trading charts from today’s trading:

2nd Trading Opportunity:

Attempting Long Entry at 5367 at 12:16PM CST and was stopped out on trade now waiting for a signal to get in again minus 10 and minus 14.

Which way? I need a tiebreaker to prove the long is valid with current market conditions … I would like to find an area to get long if possible otherwise I am still looking at the R1 at 5300 as a possible supporting area but enough room to run a short.

Long Entry Today up to R2 and beyond …

Ended up 36 ticks on the trading day … certainly could have been more … but I followed trading plan and took what market was giving. I could have moved my runner profit stop a little too close to the market when it was run at 5367 on the pullback before the R2 was run at 5400.

 

Kind Regards and Good Trading,

TradeCraze

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.