crude oil inventories

CRUDE OIL INVENTORIES

The forecast for this weeks crude oil inventories was -1.1M and the actual outcome was +2.8M for this week giving us a major difference between the previous outcome. After the release we could see some movement in price action. Price established a support area at 59.82 that was acting as a double bottom with eventually a break of this areas. It was time to look for the first setup short. 3 setups in total appeared on our trading chart for the day, the first setup giving us a breakeven trade, having to look for 2 re-entries short. The last re-entry long gave us a profit of $1200 for the trade setup. 

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 trades taken in the Live trading room on Wednesday 27th March 2019:

I continue to post the live day trading videos on my Youtube Channel where you can find more live trades from the last 4 years, all taken live in our Live Trading Room.

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Hope this helps,

Alexander Soares


Also published on Medium.