The crude oil response was to move up to its highest price ever, over $123 a barrel.
The efficient market theory is a wonderful thing as long as you remove humans from the equation.
While this is all fascinating it didn't affect my trading today. The report usually provides more range to the crude oil contract and while today's response was fairly muted there were still a couple of good trading opportunities.
I'm showing the 2 charts I watch throughout the day, the 34 and 13 tick range bar charts. I am looking for confirmation on both charts to trigger a trade.
The first trade wound up with a break even stop, the second was a nice winner with the ADX turning white as the exit.
You will also note I missed a nice move at 8:55, I wasn't paying attention and by the time I noticed it was moving so fast I passed rather than try and jump in late.
It happens.
34 tick chart.
13 tick chart.
13 tick chart.
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