Live in the Moment - Carpe Diem

Crude Oil Trading June 5th 2015

Friday: June 5th, 2015

Crude Oil Trading: Today is Employment Friday Economic Monthly Numbers … they are released at 7:30AM CST.

CLPORT Method:

Short Entry off BBV of 1244 at 6:30AM CST. Short Entry

Trade #1: Short at 5760 at 8:04AM CST … a little early but I am in on Friday trading. My debate today was what side was the valid trade … there was a mixed signal with the BBV and the RBV coming into the CL Open Outcry.

I was looking to go long above and short below the CL Opening Range today with the two 1000 volume bars of each color.

Crude Oil Market moves quickly past 1P located at 5736 on today’s trading after finally breaking thru after a push to the 200 Bar SMA.

Here is the Power of Crude Oil Trading right here … 3P move from 1P comes very quickly … moves to 3P in 5 minutes located at 5689 in today’s trading.

1st Sign of Strength coming in on the market … is it enough to hold off the short? There is a very nice bottom forming and you can see the trend line trying to hold off the shorts (sellers).

I was still short on this trade … I debated where I found failure to go down on the trade. Was it going to be 2P or a little above S1 located at 5723 today?

Here is my short trade exit … this was really close to 1.5P on the trading day, but also above the S1 Support Level, which had become resistance on the move back up.

Trade took away 33 ticks or $330. Could I have traded this better? Well, if I was trading 2 contracts, then I would have exited on 3P on one and the other basically where I took my profit today on one.

Sure, you can second guess yourself to death as a trader. I am pleased with the gain. I gave myself the room needed to continue the short, if it wanted to go on down to 7P.

I didn’t think the HVS 700 would be enough to put the brakes on the market down … but it did … in any case … take the gains while they are on the table. I am definitely not SMARTER than the market …

As I finish up this blog post today, the market really is taking off to the long side on the trading day and well above entry to the short and well beyond it … obviously … I am glad I was able to take away a win in what looks like a short squeeze today.

The people in the know played the fiddle and it sung handsomely as they caught the short traders on the move back up.

Boom … Bam … Kapow … Market Goes Up and Catches the Shorts!!

Have a great weekend … see you next week for more trading.


Kind Regards, Good Trading and God Bless,

David M. Knight

P.S. Your Golden Trading Nugget Some Training for the Week … the FAKE OUT!!

TST $10K Trading Combine Report:


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.