Day Trading Crude Oil January 3rd 2018

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Day Trading Crude Oil January 3rd 2018

Today marked the first day back into day trading for the 2018 trading year. Is 2018 the year of the breakout? Stay tuned …

I am a day trader specifically trading in the crude oil futures market at TopStepTrader (TST).

I was able to ease my way back into day trading today earning 3 ticks overall on one trade on what looked like a topping pattern with little to no downside risk at time of trade.

Good Trading,

Dave Knight

P.S. Tomorrow is Inventory and Friday is Employment Friday.


The Bar Chartist says:

Today's action has been textbook after-trend-day. The market failed above yesterday's highs over night. Great trade on the re-test of the high around europe open, and then unfortunately I wasn't ready to trade at 7am EST, which was another chance to trade short. After that the most likely trade is drift down. I did take one counter-trend scalp long a little before 930 EST. Broke the down channel and retested the channel and the RTH high at the same time. That was it this morning. Buying new lows would've worked (that's a good trade on a day after trend day), but I want dry powder for the report. Just waiting now.

Bill 777 says:

I'm glad you are in the Black, I know you like to short oil, but I think the oil market is bullish(for now), that being said you can always make money either way, I just don't like to go against the grain. It is just easier to let profits run when you get in on the right side. Of course , when you get in on the short side when it is crashing you will get the big payday.

Bill 777 says:

Dave, Keep it up! This year is going to be one of the best trading years Ever! ( I hope ).

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