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WTI Crude Oil Trading

  • #9,361
  • Apr 16, 2021 4:26pm Apr 16, 2021 4:26pm
Quoting EventsTrader
Crude (CME CL) was in a tight trading range for a couple of weeks (posted about it here). I wasn't sure which way it would break. The recent surge back above the $62 is a bullish sign. {image}
Bullish indeed, back to $66.
Be humble or be humbled.
  • #9,362
  • Apr 16, 2021 4:36pm Apr 16, 2021 4:36pm
WTI went down 25¢ today with a very low ATR that produced only 1 short trade. The vertical line indicates that a signal should have been generated on that brick but there was none.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 44 KB
  • #9,363
  • Apr 19, 2021 4:12pm Apr 19, 2021 4:12pm
WTI went up 42¢ today with a low ATR that produced 4 small winning trades and 1 break even trade. Nothing to write mother about
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 41 KB
  • #9,364
  • Apr 19, 2021 11:03pm Apr 19, 2021 11:03pm
Wierd Scene. RSI points to SELL but WTI keeps going up. Let's see what tomorrows figures bring.
  • #9,365
  • Apr 20, 2021 12:56am Apr 20, 2021 12:56am
with rsi above 55 for month, week, day, means bullish.
Attached Image (click to enlarge)
Click to Enlarge Name: a722bd4ed65768a55c6d5571593afbfe.png Size: 16 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #9,366
  • Apr 20, 2021 6:12am Apr 20, 2021 6:12am
WTI broke above its range on the 4H chart and is sustaining. Going long with a stop below $61.90. Target based on daily chart being nearly $66.50. Trade offering good risk-reward.

4H chart:

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 29 KB


Daily Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 21 KB
  • #9,367
  • Apr 20, 2021 9:48am Apr 20, 2021 9:48am
been short for hours as soon as i exit it drops 100 points. never fails
  • #9,368
  • Apr 20, 2021 10:01am Apr 20, 2021 10:01am
Quoting Kwame Freder
been short for hours as soon as i exit it drops 100 points. never fails
Same here...smh
  • #9,369
  • Apr 20, 2021 11:08am Apr 20, 2021 11:08am
Quoting Kwame Freder
been short for hours as soon as i exit it drops 100 points. never fails
Quoting ranger_lp
{quote} Same here...smh
Don't you think that 240 ticks on one trade is enough?
Attached Image (click to enlarge)
Click to Enlarge Name: 240.png Size: 36 KB
  • #9,370
  • Apr 20, 2021 11:56am Apr 20, 2021 11:56am
Quoting Hutch
{quote} {quote} Don't you think that 240 ticks on one trade is enough? {image}
Good job
  • #9,371
  • Apr 20, 2021 1:28pm Apr 20, 2021 1:28pm
this stall leads me to believe it could drop further
  • #9,372
  • Apr 20, 2021 4:27pm Apr 20, 2021 4:27pm
WTI went down $1.14 today with a high ATR that produced 4 winning trades with the first one being by far the best.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 35 KB
  • #9,373
  • Apr 21, 2021 2:33am Apr 21, 2021 2:33am
Quoting Hutch
WTI went down $1.14 today with a high ATR that produced 4 winning trades with the first one being by far the best. {image}
Hey Hutch. Nice trades. One question... is that an indicator that shows reverse trends and it also signals entries? Thanks a lot!
  • #9,374
  • Apr 21, 2021 8:28am Apr 21, 2021 8:28am
Crude Oil Inventories get announced 10:30 EDT. Look out for spike on news.
  • #9,375
  • Apr 21, 2021 11:34am Apr 21, 2021 11:34am
Quoting Hutch
WTI went down $1.14 today with a high ATR that produced 4 winning trades with the first one being by far the best. {image}
Please forgive my ignorance, but what kind of chart is that you're showing? Thank-you.
  • #9,376
  • Apr 21, 2021 12:21pm Apr 21, 2021 12:21pm
Quoting Robert1991
{quote} Hey Hutch. Nice trades. One question... is that an indicator that shows reverse trends and it also signals entries? Thanks a lot!
The main rule of the strategy is that in order to have a valid signal the FxBay MACD and the Half Trend TT arrow must coincide. This means that the FxBay MACD must be close to the zero line since the trade must be made only after the Renko brick has closed at which time the FxBay MACD is at or has crossed the zero line. Relying exclusively on the arrows is a mistake since there are sometimes false signals.

I updated how the strategy is shown because a trader didn't know where to put the components in the right folders. Here it is using STG Renko since some traders had problems with the new STS Renko.
Attached File(s)
File Type: zip Fx Bay Strategy STG.zip   405 KB | 403 downloads
  • #9,377
  • Apr 21, 2021 12:23pm Apr 21, 2021 12:23pm
Quoting drbob8000
{quote} Please forgive my ignorance, but what kind of chart is that you're showing? Thank-you.
It's only a normal 10 pips Renko chart. Everything is in the previous post.
  • #9,378
  • Apr 21, 2021 2:02pm Apr 21, 2021 2:02pm
Quoting Hutch
{quote} It's only a normal 10 pips Renko chart. Everything is in the previous post.
Thank-you
  • #9,379
  • Apr 21, 2021 4:29pm Apr 21, 2021 4:29pm
WTI went down $1.31 today with an average ATR that produced 7 winning trades and 1 break even trade.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM12.png Size: 40 KB
  • #9,380
  • Apr 21, 2021 5:41pm Apr 21, 2021 5:41pm
WTI is looking soft, may be good for another 200 pips down
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