The weekly inventory news was released today after the crude oil market opened with a gap higher. For the first 90-minutes, the market was very quiet. The reaction to the news sent the market rallying as it moved through the recent selling gap. Once it held above there and had another leg higher a long trade was set up. The entry was placed using the “day trade the markets” software with excellent trade location. The market moved only a few ticks below the long entry before rallying.
The trade was exited with a limit order for a 20 tick profit for the first half of the position. The second half was exited with a stop order for a 17 tick profit. http://daytradethemarkets.com