Tips
- Watch out for crazy volatility on Inventory report days (Usually Wednesdays)
Be very mindful of the choppy market warning and the market noise indicator http://apexinvesting.net/noise
Normally the market will spike in the direction of the news - do a massive pullback and stop everyone out - get people in short - and then totally reverse back to where the spike was - often at a deviation level.
Don’t get headfaked - only trade in direction of the news and be ready for the pull back (probably off a deviation level) after the initial spike)
The news should be a filter on direction for you for about 30 minutes (ie until 11 AM) 11 AM go with apex. (Still remember oil inventory days can be a bit crazy)
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The last 30 minutes CL can get super choppy and it is often better to simply not trade it during the last 30 minutes…you can trail stops (tighten entries to breakeven) but not always the best idea to take new entries between 2 PM and 6 PM.
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Watch for volume spike reversals - massive volume spikes on 10 minute bars often lead to reversals or at least pullbacks
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Reminder we use 4 ticks on CL e bar breakout/and BMX and 6 ticks for stop loss