WTI Crude Oil Trading | Page 452 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

WTI/USD

Similar Threads

Reliable broker for Crude Oil trading 20 replies

making money intraday CL/WTI/OIL - no overnight holds 13 replies

WTI Crude Oil (TRENDSURFING - with the help of the model) 634 replies

Trading Oil WTI to get back all! 18 replies

Hedge WTI and Brent Oil 1 reply

Attachments: WTI Crude Oil Trading
Exit Attachments

WTI Crude Oil Trading

  • #9,021
  • Nov 18, 2020 3:10am Nov 18, 2020 3:10am
WTI was coiling in a triangle over the last couple of few weeks and appears to be headed up if the upside breakout sustains:

Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 23 KB
  • #9,022
  • Nov 18, 2020 3:19am Nov 18, 2020 3:19am
When I go short the oil is spiking up haha. Recently the price is swing too much..
  • #9,023
  • Nov 18, 2020 4:41am Nov 18, 2020 4:41am
Quoting Hutch
{quote} The post above may help you. I use the infoboard indicator because it indicates the fractal trend by timeframe and ATR data. If all fractal trends are down it might be dangerous to initiate a buy trade because it may not last long enough to make a good profit or could even lead to a loss trade. My strategy is quite good with Renko bricks of 10 and above used on high ATR assets but it's not that good on low ATR assets because you would need to use small Renko bricks. The lower the brick size is the more volatile and risky trading will be....
Hutch, awesome strategy . How do you handle correlation between assets you trade? For example the DOW and WTI, would you enter the trades completely independent from each other? Which indices / energies do you trade?
  • #9,024
  • Nov 18, 2020 4:51am Nov 18, 2020 4:51am
Quoting k3nshinz3139
When I go short the oil is spiking up haha. Recently the price is swing too much..
there is no reason for oil to go up. yesterdays data shown buildup in invetory and im pretty sure todays data shows the same. US hits 150K daily new covid cases so in one week ONE MILLION PPL is out of the market. Look for mobility data and you clearly see that mobility is decreasing while price is very high.

Play according your own rules / RR / MM. Im short on OIL and waiting.
  • #9,025
  • Nov 18, 2020 5:43am Nov 18, 2020 5:43am
Quoting Hutch
{quote} Please take a look at this post and you will see how to trade the strategy properly and the problems with the Half Trend TT because it repaints. https://www.forexfactory.com/thread/...2#post13224492 I enter into a trade when I get an arrow and the FX Bay MACD line is crossing the zero line. If you had a trade running when that happened you can close that trade and enter into the new trade by pressing "Reverse" on the EA. That EA makes trading easier. I never use a take profit because there is no way to know how long a...
Thanks for the details. i am taking time to learn more.
The "buy", "sell", "reverse" buttons do not work. Also the ChartTrader02 is not showing up on the chart. In which MQL4 folders should each of these files be in?

Finally, what base timeframe generates your usual setup on oil?
  • #9,026
  • Nov 18, 2020 8:03am Nov 18, 2020 8:03am
Quoting Hutch
{quote} The post above may help you. I use the infoboard indicator because it indicates the fractal trend by timeframe and ATR data. If all fractal trends are down it might be dangerous to initiate a buy trade because it may not last long enough to make a good profit or could even lead to a loss trade. My strategy is quite good with Renko bricks of 10 and above used on high ATR assets but it's not that good on low ATR assets because you would need to use small Renko bricks. The lower the brick size is the more volatile and risky trading will be....
Yeah man thanks, ill keep reading your posts and try to perfect the art. please do consider opening a thread i know lots of traders like me will all benefit from it. many thanks ill go back into the shadows now and observe lol
  • #9,027
  • Nov 18, 2020 2:27pm Nov 18, 2020 2:27pm
Quoting Olarion1975
{quote} Hutch, awesome strategy . How do you handle correlation between assets you trade? For example the DOW and WTI, would you enter the trades completely independent from each other? Which indices / energies do you trade?
All trades are entered independently. I mostly trade the DJ30. I tried the DAX and the FTSE but while the DAX is good the FTSE is atrocious. Today the ATR was 71 while it was 140 for the DAX. On the other hand it is 329 for the Dow. No good trades when the ATR is low. On the other hand the ATR for the Bitcoin is 1,254 so there are buying/selling pressure which is good for traders that are on the right side on the market. I monitor Bitcoin for a friend but I'm considering trading it because the price flows a lot more evenly than the DAX, Dow or the FTSE as you can see on the chart. You would think that WTI and Natural Gas corollate but for some reasons they don't. For example WTI is up today while Natural Gas is down.
Attached Image (click to enlarge)
Click to Enlarge Name: BTCM69.png Size: 42 KB
  • #9,028
  • Nov 18, 2020 4:24pm Nov 18, 2020 4:24pm
WTI went up 23¢ today but the below average ATR still produced a few good trades.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 38 KB
  • #9,029
  • Nov 19, 2020 2:37pm Nov 19, 2020 2:37pm
i think the vaccine announcements have carried wti to as high as it can go for now. therefore i would expect that a big down move would be more likely to come next than a break further up
  • #9,030
  • Nov 19, 2020 4:11pm Nov 19, 2020 4:11pm
WTI went up 9¢ today but the low ATR produced a lousy trading day.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 41 KB
  • #9,031
  • Nov 20, 2020 4:17pm Nov 20, 2020 4:17pm
WTI went up 55¢ today with few trading opportunities because of the low ATR. Hoping next week will be better.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 43 KB
  • #9,032
  • Nov 22, 2020 9:24am Nov 22, 2020 9:24am
crude looks like a long based off friday's tape. i'd be a buyer off 42.11 - 16 . if it doesn't retrace that much during the asian session then i'd buy off 42.27 ish
In tea leaves we trust!
  • #9,033
  • Nov 23, 2020 2:57am Nov 23, 2020 2:57am
Quoting Mcbeaners
crude looks like a long based off friday's tape. i'd be a buyer off 42.11 - 16 . if it doesn't retrace that much during the asian session then i'd buy off 42.27 ish
Crude definitely looks like a buy and it is definitely a breakout, not a fakeout. I am big on buying crude, I have a target price of 45 for crude in 2 weeks.

Trade safe and stay safe!
  • #9,034
  • Nov 23, 2020 4:14pm Nov 23, 2020 4:14pm
WTI went up 43¢ today as a continuation of Friday's upswing.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 37 KB
  • #9,035
  • Nov 24, 2020 8:39am Nov 24, 2020 8:39am
i were looking at this for a long but thought i miss my entry. shame. hopefully some of you took it.
In tea leaves we trust!
  • #9,036
  • Nov 24, 2020 8:53am Nov 24, 2020 8:53am
oil market in full bull mode after months of being restrained by resistance.
  • #9,037
  • Nov 24, 2020 11:36am Nov 24, 2020 11:36am
longs building in crude - i've taken a small nibble. don't think its going to retrace much. we'll see. waiting to get long.
In tea leaves we trust!
  • #9,038
  • Nov 24, 2020 12:12pm Nov 24, 2020 12:12pm
i'll add to the above - the build out is very strong. expect a decent move north.
In tea leaves we trust!
  • #9,039
  • Nov 24, 2020 3:22pm Nov 24, 2020 3:22pm
API Weekly Statistical Bulletin

numbers in 10 - this is what the build up is for imo. fingers crossed. will buy any dips.
In tea leaves we trust!
  • #9,040
  • Nov 24, 2020 4:24pm Nov 24, 2020 4:24pm
WTI went up $1.96 today with a high ATR that produced an unusual trade of 110 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 33 KB
2 traders viewing now