My broken crystal ball says price forgot what 88.00 was like and wants to visit it again for old times' sake. Hey, tomorrow we have inventories and I have a special pre-inventory trade I do every week that's now produced something like 12 winners in a row (all on paper of course): About 15-20 minutes before the news, you put on a trade at the current price, long or short, it matters not. DO NOT place a protective stop, because as we all know stops cause losses DO place a limit order to take profits. If you're a conservative trader, place your limit order 20 ticks away from your entry price; if you're aggressive go for at least 50 ticks. Good luck!
Thanks, I can use some luck these days. And speaking of ol' times sake, I s'pose we need to trade together more often.
That works but so does placing an order in the opposite direction of the move about 20 mins after the report. So In 40 mins I should be able to capture at least 100 ticks. Shit, it's such a given we all might as well trade it 10 lots at a time. Although this all will break by new rule which won't allow me to trade until after 11:30.
That is very easily found out on your charting platform... Or poke around here: http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude_quotes_globex.html
I'm not sure, but those narrow days make for an explosive powerful move. I'm going to go with the flow. Probably more bullish.