Today’s price for WTI crude oil and Brent Oil
U.S. – Baker Huges Rig Count 266
Canada Rig Count 17
International Rig Count 805
A.P. I – Report 3.900 Million
U.S – Crude oil Inventories –2,608
U.S. Baker Huges Rig Count
Baker Hughes has been completing a rig count for the petroleum industry since 1944 rig count. They collect data monthly for international and weekly for the U.S. and Canada.
A.P. I – Report Weekly Tuesday 9:00 U.K. time
API American Petroleum Institute report is a weekly report of levels of U.S. crude oil, petrol and distillate stocks. It’s a guestimate for the following days Crude oil inventories.
US Cushing Crude oil Inventories. Wednesday 15:30 U.K. time
Crude oil Inventories is the leading weekly report for oil stocks in the U.S. it tends to be the main mover of the market, and I avoid this like the plague.
WTI Crude Oil Strategy with day trading charts
This is my weekly report of WTI crude oil as you can see from above I also report on Cushing inventories, rig counts and API to save you having to look for yourself I myself avoid the big news times of the day as it can cause big jumps and wipe your account quite easily.
I release this report over the weekend once the weeks trading period is over so that you can take a look and contact me for next weeks pivots to trade from.
I email them to my subscribers every evening after the market closes.
If you would like to learn how to trade my strategy, please checkout the rest of the website.
I have added the first strategy to this post then I will follow on from this in proceeding weeks.
If you cannot wait that long and would like to learn it all today jump over to the classroom just click here to take a look
- Triple EMA
- EMA With Pivots
- 8 am Open
- 2:30 pm Open
15/06/20 WTI Crude Oil Daily Results and charts
Triple Ema Results
For a break down of this strategy click here, I will now explain entry and exit points from the first image on the slide show triple EMA.
I’m in the UK so as you can see I start my day at 8 am and follow the charts through the day until they close at 10 pm.
If you were solely trading EMA, you might have had a loss just after the 8 am open as the trend was down and there is a confirmation of trend a red candle is confirmed.
But if you kept to the rules, you shouldn’t have a loss of any more than 2% of your account balance using the risk ratio I have explained in a previous post
The next opportunity would have been 10 am if your stop loss was quite tight below 20 pips, and your gain was set to double the loss; there is a good chance you would have had success.
The next chance would have been 11:30 am another confirmation candle confirming the trend up. But because you haven’t got the pivot points plotted like in the following chart that would have warned you not to open a position as there would be a chance of reversal.
Then onto the afternoon’s trade where it trends up for the rest of the day.
Triple EMA With Pivots.
The second image has my pivot points plotted to use as a guide to support and resistance levels as you can see, the market opened below both pivots so you would expect to see resistance at this level.
This level proves correct at 11 am it gets close to the pivot level and reverses for about a 100 pip Fall if you followed this pivot trade.
The pivots are not a perfect prediction, but if you look back at my old data, they do work more times than they don’t if you would like the pivot emailed to you every evening for any and stock click here to join our mailing list.
Triple EMA With Pivots & 8 am open & 2:30 pm Open.
As you can see i keep building on different levels and more confidence it’s about creating a robust strategy which gives a clear indication when to open a position and when to leave the market well alone as well.
I traded this chart I got a loss on my first trade of £41.73 which was slightly more than I had set at £38.97 but thats a bit of slippage for you I opened a short on the 8:10 am red candle but then it jumped and took out my loss.
Thats what its there for then I jumped in and opened along with the last trade I set my stop loss at £38.78 this time just below the open and the previous red candle.
I closed this position for a profit of £143.43 on this trade and didn’t trade again.
2:30 pm USA open I didn’t trade. However, I still monitor and report for you to take a look another great opportunity arisen off the open, and it would have been possible to double my profit again.
Still, I was happy with close after my loss and was busy writing websites.
16/06/20 WTI Crude Oil Daily Results and charts
Triple Ema Strategy 16/06/2020
You can see on the first picture on the gallery Triple EMA chart.
The market trended all morning perfectly following an uptrend until just after the USA open.
If you didn’t manage to open a long position just after 9 am you would have had to wait until just after 10:30 am when it has a bounce and then carries on for the rest of the day.
After 3 pm there was a single candle pull back and then a green, but is reversed.
Triple EMA & Pivot Strategy
Image two on the chart dated 16/06/2020 labelled Triple EMA & Pivot Strategy.
Just After the U.K. open at 8 am the stock drops and touches the Red main pivot level then bounces and continues to trend up until after 3 pm.
If you traded the pivot bounce there was potential to make 200+ pips if you traded perfect it does happen but not very often.
Triple EMA, Pivot Strategy & 8 am Open
As you can see on the third image, I have added blue lines at the 8 am open, which is high and low of the five-minute candlestick.
This open trading proves to be an excellent way of getting onto a trend and following it for a few hours if its right.
As you can see, this strategy and setup worked well today sadly. I didn’t trade as I was away for the morning then I am building my affiliate business which is taking up lots of time.
17/06/20 WTI Crude Oil Daily Results and charts
Triple EMA Strategy
As you can see on the first chart that represents just EMA trading there is a good trend up in the morning then for the rest of the day it goes up and down so you would struggle to get a decent profitable trade from this.
Triple EMA & Pivot Strategy.
You can see on the chart that adding the pivots today has made a big difference.
At 08:00 U.K. opening time, the Crude Oil Dips touches the pivot then bounces high if you had managed to buy at the line you could have made over 100 pips in the first trade of the day.
Triple EMA, Pivot & Opening range Strategy
Once the opening range has been added as well, it gives you an even better setup to go long for the day and maybe also open a more significant position. Click here to take a look at my classroom lessons, where I teach my strategy and how to use it.
18/06/20 WTI Crude oil Daily Charts And Results
Triple Exponential Moving Average EMA Strategy One
From the open Crude Oil then Follows the trend up bouncing off the EMA a few times before a bit of a reversal which could have caught you out then resumes its trend up.
Triple EMA And Daily Pivots Strategy Two
The Second image is zoomed out a bit too far, but you can find out more details on the next image WTI Crude Oil is hanging around the pivots, so it has to be a cautious trade if you want a trade from the pivots
the best thing to do would be to wait for it pass to the other side of the pivot then open along.
Triple EMA, Daily Pivots And 8 Am open strategy three
Now using all three filters, it helps to focus in on what’s happening you have the trend heading up.
It’s confirmed an up on the opening range and broken into the pivot range.
If you were looking for the perfect trade, you would wait until about 9:00 then open along with your stop been just below the opening range.
19/06/20 WTI Crude oil Daily Charts And Results
Triple EMA Exponential Moving Average Strategy one
Nice simple setup today at 8 am red candle to start with then continues in trend direction for a while.
You should be able to take advantage of the trend and made an excellent profitable trade from this until about 11 am then gives us a false confirmation. Still, we should have closed out long already following the strategy.
Triple EMA ANd pivot lines
First, you would take a look at what the price action is doing is it above below the pivots which way should I trade.
Today’s chart shows that we are trending up and quite a bit away from the pivots so trade with caution.
If the market was to trade close to the pivots, you should expect resistance and a bounce.
Thats exactly what it did, but you could have traded the down until the pivot.
Thats in the perfect trading world right looking at old charts and yeah if I did this and did that I would be a millionaire.
But if you take a look at the next stage, 8 Am open it helps define the trade.
If you don’t get greedy, you can take pips out of the market quite regular.
Triple EMA, Daily Pivots and 8 Am opening Range
Moving onto the final 8 am open for the week we can open a long position, but it just becomes a little tricky with the stop loss at 8:15 as it has a bit of a spike making the gap Large if you were a little late getting in.
The best thing to do is sit back and if the stop is too big don’t open wait and see if you miss it you miss there will always be another trade.
Triple EMA, Daily Pivots And 14:30 Opening range
Starting off going into the afternoon it looks like it’s going to be another trend up for the afternoon.
Don’t get me wrong I would have opened a long position at this point as well.
Just after
If you were within the 6% per day risk, you could trade again and then that would be another success.
Strategy one Exponential Moving Averages
Below are some images of trending markets and the EMA exponential moving average lines from charts I use to day trade myself I use 3 EMA scales 14, 30, and 50 EMA all on a 5 min chart.
As you can see, when the stock is trending up, you are getting continuous green candles, this confirms the direction of the trend as well as the ema lines moving in unison.
But it’s risky to open a position with no idea, no open or close. It’s just like taking a bet on heads or tails and hoping for the best.
First and foremost, we need first to know the risk Other trades suggest not to risk more than 1% of your balance on a single trade.
But if you were trying to scalp open and close quickly, you could be risking 30-40% of your balance.
Please take a look day trading risk calculation explanation of I how to set myself up before I even open a trade I only risk 6% a day.
Finding Stocks to trade Daily.
Trade setups occur when all three lines are trending either up or down
If they are confused, i.e. crossed or just bunched together going sideways it’s not the time to trade EMA.
If you are using solely this strategy to trade from, I would have maybe 5 – 10 stocks to follow daily mix them up to different sectors.
Then when you are ready to trade skim over all of them, make a shortlist of the ones that are trending.
I say three of the ten seem to be trending watch them more closely then follow the rules below.
When To Open A Day Trading Position
It’s not a guarantee or promise to you; it’s just a way of controlling your losses and profits.
A good practice is to follow the wave pattern but have an upper limit at which I will close as well I will explain that later.
You have checked through your stocks and trends and decided which ones are looking good for today and trending well.
I would wait for a pullback to happen this is when the stock has a bit of a reversal back towards the line if it’s trending up that would be red candles if the stock has passed quickly through all three lines that Voids the trade doesn’t trade its too risky at this point it could reverse.
But if the stock comes and passes through the 14 EMA or touches then completes a green candle confirm trend as above you then have you open.
Stoploss
But firstly you set your stop loss that’s the point on the chart you decided nope it’s not going my way you don’t change or tweak.
I’m not going to lose any more than this amount it’s under your control forget about it the system will close the Position for you.
Where to close my Position
As above you stick to this or you could lose a lot more than you want or need to you have made your mind up this stock is going this way and if it doesn’t I’m wrong.
But I’m right in that I saved my account with a stop-loss it’s hard but pat yourself on the back you can still trade another day.
So the stock has pulled back, and you have had the confirmation candle as with example explained above a green candle, and it hasn’t closed below the 50EMA we are good to go.
Have a look at the previous lowest red candle just below that say three pips thats you stop loss now it’s up to you if you open or not according to the setup.
Example One
Oil is trending up the stop you have worked out is 50 pips lower than the stock is now you want to set your stop loss at 2% of your account £40 of £2000 but you would need the Stock to move 50 pips for you to have a chance of just breaking even. I wouldn’t open the Position as that’s a significant gap to fill I would wait for the next setup.
each pip is worth £1.52 with 100 barrel size position 50 pips would be £76
Example Two
Oil is trending up again and has confirmed the confirmation now your stop is 15 pips your percentage of risk stays the same, but you can open a more significant position with the same risk
Each pip is worth £4.56 with 300 barrel size position 50 pips would be £228
As you can see in example two, you would get a lot more profit for the same risk, but sometimes this doesn’t work out either as the market can make significant glitches in either direction then resume its just one of those things you need to accept.