Sometimes the Stars, Moon, and Sun Align in Crude Oil Trading

Patriot Day

Hello Traders,

Patriot Day Today … September 11th … Let us never forget …

Stay CCC!!!

Trade #1: Short 9075 Only Right Now … NERFP on Long Entry right at S1 on the Long Side. The reason I didn’t trade the long side of the trade was because there was not enough room for profit in front of the S1 Line at 9095 … But on the other side … REMEMBER THAT MARKET CONDITIONS CHANGE AS TIME PROCEEDS … what is not NERFP can BE ERFP!

If you look at the chart you can see it was hit 3 times and the 4th time through!!

Trade #2: Long Entry Signal at 9095 … but right at S1 Support Level … I waited till 1P was driven then got in looking for the settlement price of 9167. My entry point was 9121 at 8:40AM CST exit on trade was 9161 at 8:55AM CSt.

2P was reached at 9147, then 9161 was run as well …. picked up 40 ticks on a well planned out trade. There was a zig zag pattern into the trade entry and it looked very strong that the market would go to at least the Settlement Price of 9167 on the trade.

We drove through the 2P point and then it went straight up to the settlement price of 9167 then held and fell back a bit. This was a well planned out trade for me. This is the kind of stuff I am capable of … when I put my plan to action. Plan the Trade … then Trade the Plan. If you don’t have a reason to get in …

DON’T GET IN! Trading just to trade is the recipe for disaster!

I will give myself an A on this trade. My only doubt was at the S1 line. I was looking to short the market to start with … I was almost pulled into the trade and would have had a loss on my first trade if that happened. I was saved from being short by one tick. I need to pay more attention …

Still working the opening range setup trade in Crude Oil … this is going to be my bread and butter.

 

God Bless and Good Trading,

David AKA Tiger

P.S. After looking at the market … we had a reversal that went all the way up and through the pivot point today at 9199 to a high of 9234 before coming back off that level.

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.