CL Journal
- Thread starter Buy1Sell2
- Start date
Pent up volatility during Holiday weeks can easily result in 50 tick retail stopouts when news comes out (weekly API report). For London open, will be looking to see if she can fuel some momentum above 4550s and power back up to 4650s. The closer to 45s for possible entry the better (only during London open). Sustain activity below 45s negates the setup.
Mindful of EIA Inventories at 11:00 ET on Thursday. We don't care what the news is, only when it occurs.
If you trade CL without knowing the 3 most important times of each week, good luck!
Mindful of EIA Inventories at 11:00 ET on Thursday. We don't care what the news is, only when it occurs.
If you trade CL without knowing the 3 most important times of each week, good luck!
Thought the same thing ... maybe 9am and 230pm est old pit session times? I know there is also a rig count at some point but I've never paid attention to it.
You already have the weekly EIA inventories.
Weekly API Report (typically Tuesdays 15:30 CT, but we had one today due to holiday - hence the 50-100 tick rejection spike we saw late afternoon today - that was not random).
http://www.api.org/~/media/Files/Publications/WSB-2017-schedule.pdf
Baker Hughes Rig Count Fridays 12:00 CT.
http://phx.corporate-ir.net/phoenix.zhtml?c=79687&p=irol-rigcountsoverview
We don't really care what the news is - only when and that it exists. It's not that these news events create bullish or bearish conditions - it's more that they serve as very useful reference points 'imprinted' for the rest of the week and into next week.
Take the reaction/price behavior relative to the news 'imprints', combine with your own order flow and tape reading skills, and you have the ingredients to develop a very interesting trading strategy
Weekly Oil Report came out today instead of yesterday due to the holiday. If you weren't a paper trader, you would know this.
I only trade chart/price/indicator combo. I do not want to know news. It's too much information.