The Performance Coaches gained $198.96 today affter going long Crude Oil ($CLZ7) on three separate trades. Though Crude closed lower on the day, the Coaches kept initiating longs based on the two-month-long trend that saw Crude gain from $47 to a high of $55.20 today. That $8 move has only accelerated in recent days - causing the Coaches to look for opportunities to primarily buy any dips.
Here's how the Coaches trading worked out today.
The Coaches first long of the day came right at the open, when Crude initially sold off to $54.80 and then rallied up $0.10. This is one of John Hoagland's favorite trades - when the one-minute opening bar (8 AM CT for Crude Oil) establishes a range and then prices move outside of that. Hoag then puts a stop below that bar and buys that break out.
Today, that trade worked out for the Performance Coaches - as Crude traded higher. Since they were closing out the trade ahead of the inventory numbers, they were able to lock in a $100 profit.
The Coaches placed two more trades the rest of the day - going long Crude near the Weekly Kickoff high of $54.60 - and then once again after it put in a bottom. The second trade did not work out, while the final trade did - helping the Coaches add nearly $200 to their balance today.
If you want to follow the Coaches' trades on Twitter (@topsteptrader), you can use #CoachesCombine. Here's how we reported them today.
As a reminder, trades are not recommendations and we do delay the Twitter feed by 15 minutes.
Total performance for the day, including fees and commissions: $198.96. Balance is $50,753.17. For more, check out their Trading Combine dashboard below.