November 15th, 2012: Crude Oil Trading

Dear Traders,

Today it took a couple of times at the pivot point, but on the 3rd try I was successful in getting in on the short move in Crude Oil.

One of the things that I look at is the RENKO Chart of Crude Oil here is what it looked like roughly after it broke the Pivot Point for the short trade:  10 RENKO Chart Crude Oil

And here is my trading chart the 89 Tick Chart of Crude Oil.  One of the points I would like to make … perhaps … if instead of trying to get in at 85.91 today … I would have looked at 85.81 this might have been a better time to short this trade.

“The Pivot Point is  like a MAGNET the closer to it the more powerful it becomes in attracting and repelling away from it just like the North and South Magnetic Poles.” – Me 😛

Thursday Trading Video:

 

God Bless and Good Trading,

David ‘Tiger’ Knight

 

 

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.