Yesterday we had a very crude conversation about crude oil. I shared the Hawkeye Perspective on what to look for, and how to watch for the trade setup. Today, I show exactly how it played out, hitting both the upside and downside targets I gave you yesterday.
Trading the News
The 3 minute price bar defines the range of the reaction of price to the news event. With patience, I show how volume led me in the direction of the trade setup, and the resulting profit potential. Again, volume shows the reversal and the market’s intent.
The Hawkeye Roadkill identified when the higher timeframes aligned with my 3 minute chart. This alignment setup, following our 3 Step Entry Method, showed how even more profits could have been made – just following the rules.
In summary, if both trades were taken with a single contract, the potential results would be $140 on the first trade and $440 on the 2nd. If 3 contracts were traded, the results would be $420 on the 1st trade and $1950 on the 2nd. Learn to trade the Hawkeye way.
Join Randy in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.
Learn to trade the Hawkeye way.