Failure to Success in Day Trading

Crude Oil Trading May 6th 2015

Wednesday: May 6th, 2015

Reset my TST Trading Combine Today. What are my trading rules? One Trade or Two Losses in a Row to stop?

CLPORT: This Morning went to 1P Profit Target at 6167.

CL Inventory Report Nice BBV HVS Bar of 3591 on the Charts Sets Up A Very Nice Short Signal at 6239 today.

Market easily blew past the 1P profit target and on towards the 2P profit target before any signs of a bounce.

Crude Oil Market continued to show signs of weakness to the 2P profit target located today at 6193 on the trade. BTW, 1P Profit Target was located at 6216 for the 1st exit on any contracts.

Market decided to recover a bit and now we are in between 1P and 2P to see who will win this fight right now …

Market continued to Show Weakness all the way down to 4P located at 6147 on today’s trading. The 7P Profit Target is located at 6077 on this trade, FYI. Crude Oil Market went through the R1 Support level … yes it is support when you come the other direction at it.

Originally the crude oil market opened trading at 6072 today and moved all the way up to and through R2 located at 6261 before selling off on the trading day. All of this movement happened very quickly after the release of th CL Inventory Report on the trading day.

Market made it all the way down to the 7P profit target on this sell located at 6077 in today’s trading.

 

 

Kind Regards, Good Trading and God Bless,

TradeCraze

Check Out My Latest “FREE” Trading Method: CL Power

 

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.