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WTI Crude Oil Trading

  • #9,261
  • Mar 11, 2021 2:35pm Mar 11, 2021 2:35pm
Quoting Kwame Freder
{quote} struggling to break north now, may get a nice bullish run before the week ends. no clue on time frame but if it does break north $70 target will probably get taken out
You are correct since it was in a 70 pips range for most or the day until the last arrow. WTI produced 6 winning trades today within a low ATR.
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  • #9,262
  • Mar 11, 2021 8:57pm Mar 11, 2021 8:57pm
Quoting Kwame Freder
{quote} struggling to break north now, may get a nice bullish run before the week ends. no clue on time frame but if it does break north $70 target will probably get taken out
Indeed, we wait with bated breath, and loaded accounts. : ) This time last week was hovering around 64.00, currently 65.80.
"Don't Shoot Me I'm Only the Piano Player"
  • #9,263
  • Mar 12, 2021 6:30am Mar 12, 2021 6:30am
i've been noticing of recent that we get this erratic up and down indecision early new york session, then a break out later in the day. just something to bear in mind
  • #9,264
  • Mar 12, 2021 3:10pm Mar 12, 2021 3:10pm
Quoting Kwame Freder
i've been noticing of recent that we get this erratic up and down indecision early new york session, then a break out later in the day. just something to bear in mind
False at least for today. WTI went down 34¢ with atrocious trading conditions due to an extremely low ATR. Worst trading day of the year.
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  • #9,265
  • Mar 12, 2021 5:26pm Mar 12, 2021 5:26pm
Quoting Kwame Freder
i've been noticing of recent that we get this erratic up and down indecision early new york session, then a break out later in the day. just something to bear in mind
Thanks.

Quoting Hutch
{quote} False at least for today. WTI went down 34¢ with atrocious trading conditions due to an extremely low ATR. Worst trading day of the year. {image}
L 68.41 H 69.25 C 68.57. At leat closing off lows, pretty well steady. A mostly uneventful day for most commodities and US30 overall.
"Don't Shoot Me I'm Only the Piano Player"
  • #9,266
  • Mar 15, 2021 9:47am Mar 15, 2021 9:47am
Very light trading volume in CME crude today. Actually, pretty light the last few sessions. I sensing some uncertainty out there.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,267
  • Mar 15, 2021 1:14pm Mar 15, 2021 1:14pm
my long target is 68.35. lets see what it does
  • #9,268
  • Mar 15, 2021 3:16pm Mar 15, 2021 3:16pm
WTI went down 30¢ today with an average ATR that produced 2 break even trades and 3 good trades. Much better than Friday.
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  • #9,269
  • Mar 16, 2021 10:54am Mar 16, 2021 10:54am
Crude oil prices were certainly due for a pullback. The extremely low volume the past few days is telling me the market is very uncertain one way or another:
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,270
  • Mar 16, 2021 2:11pm Mar 16, 2021 2:11pm
WTI went down 33¢ today with a low ATR that produced 1 break even trade and 2 very good trades.
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  • #9,271
  • Mar 17, 2021 6:33am Mar 17, 2021 6:33am
Hi Hutch,

I've been following you for a long time and I see you're using an oscillator (I see arrows). Can you help me put that in my metatrader, too?
  • #9,272
  • Mar 17, 2021 7:39am Mar 17, 2021 7:39am
Quoting kstiks
Hi Hutch, I've been following you for a long time and I see you're using an oscillator (I see arrows). Can you help me put that in my metatrader, too?
It looks easy but following the arrows is deceitful. Here is my last update but please make sure that you look at the links in the info text file. I added a mean Renko indicator since some traders had problems with the the STS one. The chart was made using the RenkoMeanLiveChart_v1.0 indicator.
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  • #9,273
  • Edited 10:45am Mar 17, 2021 9:41am | Edited 10:45am
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Hey THANK you very much.
I'm not sure but I hope I installed everything well. Please check the picture.
Now, I'm wondering what are your favorite brick size parameters and what time interval do you like to use the most?
Second, any other parameters that you want to advice me please?

I'm a total beginner so I'm interested what experts like you use
  • #9,274
  • Mar 17, 2021 11:50am Mar 17, 2021 11:50am
Quoting kstiks
{image} Hey THANK you very much. I'm not sure but I hope I installed everything well. Please check the picture. Now, I'm wondering what are your favorite brick size parameters and what time interval do you like to use the most? Second, any other parameters that you want to advice me please? I'm a total beginner so I'm interested what experts like you use
I don't use any experts I only use indicators. The indicator you wanted is the Half Trend TT indicator and, as designed, it works on all timeframe charts but it's way more efficient on Renko charts. To build a Renko chart it's best to use a M1 chart. On that M1 chart you put one of the 2 Renko chart builder and choose the brick size. This video explains How to Add Renko Candles to a MT4 Chart - Step by Step Video Guide - YouTube
Although he is using an expert, indicators work just as well. Once this is done you need to open the Renko chart. The MT4 command is File, Open Offline then locate the currency pair with the Renko brick size that the Renko generator built. If you used the EURUSD the name of the chart will be like EURUSD, M2 or EURUSD, M68 or something similar. Once you have opened the offline Renko chart just apply the Renko template that was included in the ZIP file that I provided you or any other template that you might want to use. I hope this helps.
  • #9,275
  • Mar 17, 2021 2:18pm Mar 17, 2021 2:18pm
WTI went down 52¢ today with a low ATR that produced 4 wining and 1 losing trade. The continuation trade from yesterday would have been the best trade.
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  • #9,276
  • Mar 18, 2021 9:38am Mar 18, 2021 9:38am
Heavy selling coming into Crude futures. It was due. Biggest intraday drop since December. Down around 5%.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,277
  • Mar 18, 2021 9:39am Mar 18, 2021 9:39am
Quoting EventsTrader
Heavy selling coming into Crude futures. It was due. Biggest intraday drop since December. Down around 5%. {image}
Probably shouldn't lose sight of the bigger picture though. Although it's been strong there's a lot of room lower for a correction even if the upward trend ultimately holds.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,278
  • Mar 18, 2021 11:37am Mar 18, 2021 11:37am
Quoting Kwame Freder
my long target is 68.35. lets see what it does

lol holy crap maybe by summer. wti has fallen off a cliff today.
  • #9,279
  • Mar 18, 2021 1:04pm Mar 18, 2021 1:04pm
Quoting Kwame Freder
{quote} lol holy crap maybe by summer. wti has fallen off a cliff today.
Yep ... I have never seen an ATR above 600.
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  • #9,280
  • Mar 18, 2021 2:29pm Mar 18, 2021 2:29pm
WTI went down $4.88 today with the highest ATR that I have seen. That ATR produced 1 losing trade, 4 break even trades and 7 winning trades.
Because I don't have enough space to show the whole chart unless I make it very small I'm showing the best trade of the day. Unfortunately I missed it
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