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WTI Crude Oil Trading

  • #9,601
  • Jun 22, 2021 4:15pm Jun 22, 2021 4:15pm
WTI finished the day at the same price of yesterday with a quite low ATR that produced 3 winning trades. Please note that the last arrow was a false signal.
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  • #9,602
  • Jun 23, 2021 4:21pm Jun 23, 2021 4:21pm
WTI went up 17¢ today with a lower than average ATR that produced 1 short trade but the continuation long trades from yesterday was nice.
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  • #9,603
  • Jun 24, 2021 4:22pm Jun 24, 2021 4:22pm
WTI went up 4¢ today with a low ATR that produced 3 winning trades.
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  • #9,604
  • Jun 25, 2021 8:08am Jun 25, 2021 8:08am
What a rally since May 21st. It's tough to think OPEC+ won't increase production or at least provide guidance for increased production starting Aug. The OPEC+ meeting next week is going determine whether or not we're at a top in WTI. Lots of talk out there about $100 oil.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,605
  • Jun 25, 2021 4:16pm Jun 25, 2021 4:16pm
WTI went up 67¢ today with a lower than average ATR that produced 2 winning trades. I suspect that the last signal is false since the FxBay MACD is still positive.
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  • #9,606
  • Edited 11:54pm Jun 27, 2021 11:41pm | Edited 11:54pm
Quoting EventsTrader
What a rally since May 21st. It's tough to think OPEC+ won't increase production or at least provide guidance for increased production starting Aug. The OPEC+ meeting next week is going determine whether or not we're at a top in WTI. Lots of talk out there about $100 oil. {image}
Indeed, a strong rally so far this year, first 6 months almost over.., I must read back. "The Precious One", SPOT GLD, continues to languish. Crude now $100.00 being postulated. No doubt about it, Oil the winner for China virus recovery to date, never be rid of it, CV, but we do our best. : ) When on a good thing, re Crude, well, you know the story. Happy. : )
"Don't Shoot Me I'm Only the Piano Player"
  • #9,607
  • Edited Jun 29, 2021 8:14am Jun 28, 2021 10:17am | Edited Jun 29, 2021 8:14am
Quoting yani38
Oil the winner for China virus recovery to date
I had to check this because of how much copper has been on a tear. One of my favorite charts since the pandemic has been a Crude/Copper overlay, especially to determine demand in China. Sure enough, copper has retreated but crude has continued to rally.

Here's the CL/HG overlay (CME futures) since the start of 2020:
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #9,608
  • Jun 28, 2021 4:21pm Jun 28, 2021 4:21pm
WTI went down $1.30 today with an average ATR that produced 1 break even and 4 winning trades with the last one probably continuing downward when the new session begins.
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  • #9,609
  • Jun 29, 2021 7:17am Jun 29, 2021 7:17am
looks like its setting up to go north again
  • #9,610
  • Jun 29, 2021 2:40pm Jun 29, 2021 2:40pm
one hour before API..,
"buy" from 72.69 ( micro acc ).., now around 70 pips
have to decide to close it or to hold it
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dolce vita
  • #9,611
  • Jun 29, 2021 4:17pm Jun 29, 2021 4:17pm
WTI went up 71¢ today with an average ATR that produced 6 winning trades. There was 1 false signal (4th arrow) that had no consequence since the trend continued upward.
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  • #9,612
  • Jun 30, 2021 6:28am Jun 30, 2021 6:28am
That's a fantastic part.
Question: does the EA act automatically?
  • #9,613
  • Jun 30, 2021 6:37am Jun 30, 2021 6:37am
Quoting Hutch
WTI went up 71¢ today with an average ATR that produced 6 winning trades. There was 1 false signal (4th arrow) that had no consequence since the trend continued upward. {image}
Hi Hutch, according to your strategy, is the correct buy signal entering the buy signal on ENTER 1 or on ENTER 2. I would like to ask if after the arrow and MACD crossing the zero line we immediately enter the position on ENTER 1, or wait until the two bricks are finished and they are of the same color and we only enter the position on ENTER 2 after two finished bricks of the same blue color. Please, please, could you explain how you do this and get into the position. Thank you in advance and best regards
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  • #9,614
  • Jun 30, 2021 7:06am Jun 30, 2021 7:06am
Is my entry into the positions correct and in accordance with the rules ??
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  • #9,615
  • Jun 30, 2021 7:25am Jun 30, 2021 7:25am
It seems that it was not a good entry into the position, as the price after a slight correction continues the upward trend. Hutch, do you use Stop Los when you're cutting losses and are you going into the opposite position to compensate for your losses? Can you describe how you do it ??
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  • #9,616
  • Jun 30, 2021 8:45am Jun 30, 2021 8:45am
WTI $75+ looks possible today. inventory numbers may pave the way there
  • #9,617
  • Jun 30, 2021 3:55pm Jun 30, 2021 3:55pm
Nolan for what it's worth my take on your entry is that technically it was correct ie you got a signal and the MACD had just crossed the line. What you could have done better was manage your exit and taken a small loss once the MACD went back up and the renko brick formed in the other direction. The next signal had a higher probability as it was coming off a recent high which was Tuesday's big candle push down
  • #9,618
  • Jun 30, 2021 4:28pm Jun 30, 2021 4:28pm
Quoting Nolan38
{quote} Hi Hutch, according to your strategy, is the correct buy signal entering the buy signal on ENTER 1 or on ENTER 2. I would like to ask if after the arrow and MACD crossing the zero line we immediately enter the position on ENTER 1, or wait until the two bricks are finished and they are of the same color and we only enter the position on ENTER 2 after two finished bricks of the same blue color. Please, please, could you explain how you do this and get into the position. Thank you in advance and best regards {image}
The entry that you show is correct because the second brick after the signal arrow is of the same color and, more importantly, the FxBay MACD zero line has been crossed on the up side and is positive. If the FxBay MACD is quite positive I enter into a trade at the beginning of the brick after the signal arrow but if the FxBay MACD is not positive enough for my liking I enter after the second brick has been completed or if is near completion. It's a matter of interpretation but never forget that the two best indicators that you have are your eyes no matter the strategy that you are using.
  • #9,619
  • Jun 30, 2021 4:45pm Jun 30, 2021 4:45pm
Quoting Nolan38
It seems that it was not a good entry into the position, as the price after a slight correction continues the upward trend. Hutch, do you use Stop Los when you're cutting losses and are you going into the opposite position to compensate for your losses? Can you describe how you do it ?? {image}
Because Renko has a tendency to produce very good trades because there are usually many consecutive bricks of the same color I don't worry much about losing trades and I never try to compensate for them. On the other hand we never know when we will suffer an electricity or an internet outage so I always use a 2 bricks stop loss just in case this happens. I like to use the reverse button on the EA to close a trade and start a new one. Although it looks excellent on the chart it's not perfect. When we trade there are instances of closing a trade too late in which case the entry into the new trade is also late so we forfeit a few pips. This strategy is good but not perfect.
  • #9,620
  • Jun 30, 2021 4:53pm Jun 30, 2021 4:53pm
WTI finished the day at the same price as yesterday with a below average ATR that produced 6 winning trades and 1 potential losing trade because of a false signal (4th arrow signal) although that signal later proved to be good. On a false signal I close the trade and wait for the next good signal.
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