Day 3 Crude Oil Trading

Hello Traders and Friends,

I am looking for a move above the $50 a barrel and the market is showing signs that it may go up … I am looking to be long at 50.01. The greater question on a Friday does the market want to trade above to $50 a barrel at this point in time.

The setup is a valid setup, but the timing may be off. I am still getting used to the T4 order entry and how to enter trades properly. I am using the Auto OCO order entry to get in.

I have to set them before hand and only one series at a time to enter the trade. I am using T4 because this is the one sponsored by Top Step Trader and I want to make it work (my trading strategy) on it.

Trade Setup #1: Breakout

Trade Setup 1A: Coil Breakout

Entry is all about timing … $50 a barrel is a key point where a lot of fighting will go on, but it does look good that the market wants to move up at this point in time.

1P Reached at 5025 Today on Trade one Contract out the other to breakeven plus 3 ticks.

End of Trade 2nd Contract out plus 3 ticks.

Ok that does it for trade setup and management on today’s trading … have a great weekend!

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.