crude oil inventories

CRUDE OIL INVENTORIES

The forecast for this weeks crude oil inventories was -2.9M but the actual outcome was +2.4M coming out with a big difference. There was already big unusual movement during the London session that continued After the release. We got Support and resistance confirmed with an eventually break of the Support area, exactly what you would expect with an outcome like this. But….. as usual we always play the game with our levels and never trade against our base rule trading system . Our first setup was a long setup for an eventual break even trade and we saw price pulling back into our support area and eventually breaking it. It was time take several short setups with price trading well below the average daily range of the last 30 days for an eventually positive outcome of the trading day.

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 August 07th 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.