How to Trade Crude Oil

Crude Oil Inventories 4th of August

The forecast for this weeks crude oil inventories was -3.2M and the actual outcome was +3.6M exactly the opposite indicating a lower crude price.  We always wait for support or resistance and price was indeed able to break the established support level but we where not able to continue the trend that was already established during the London session. We followed our trading plan and waited for the setup short that never triggered on our trading chart, price was eventually able to break resistance and 2 small trades followed. First setup Long was from $68.98 that was only good for a fisrt target, re-entry followed from 69.06 and again only hitting our first target. After that a break of support followed changing direction of the market but keeping momentum up not giving us permission to take short setups. A sideways market followed and we where done after 30 minutes of trading for the day and adding $400 to our P&L for the surprisingly good moving market during the month of August that is already counting with a profit of $1240 after 3 trading days.

The trading plan we use for the release of crude oil inventories has a tremendous track record and the context of tested and proven trade plans that grow a trader´s equity.There are off course always times that it will be challenging but we always keep disciplined, never let your emotions play any part in your trading! Let the system and trading plan do the job.

Live trade taken in the Live trading room on Wednesday 4th of August 2021:

I continue to post the live day trading videos on my Youtube Channel where you can find more live trades from the last 5 years, all taken live in our Live Trading Room.

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Alexander Soares


Also published on Medium.