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Crude Oil WTI

OBSERVING CRUDE OIL IN A 1 MINUTE PERSPECTIVE (Visual Only)Someone brought this to my attention in oil chat and decided to have a look myself and you really do get to see so many tradeable scalping opportunities. Never bothered to look at oil this way before, but this is very insightful to me, thought I ought to share. If you are a pattern trader, then you really ought to start analyzing market this way in my opinion. Highlight for this idea goes to @mikkel-j ... Now get pattern spotting guys. BELOW IS A TEST CHART IN 1 MIN TO FOLLOW AND SEE IF PATTERN PLAYS OUT.
FX:USOILEducation
by Dani0
SUPPORT AND RESISTANCE A major mistake traders make is to assume that in order to be profitable you need to use so many tools and it's in fact the opposite. Let's start off with basic support resistance. We know the market moves up, down and side ways. But it never moves straight up or down. As it moves up or down it will meet levels of support and resistance. It's important you understand where these levels are on which ever pairs you trade. SUPPORT - you will meet points of support mainly in a downtrend. As pointed out above, you can see there are more points of support than resistance. So remember support will appear below price, below the candlesticks. see it as the floor of the chart. RESISTANCE - You will meet points of resistance mainly in an uptrend, support is the 'roof' it will appear above price. Price meets head on with resistance levels. Previous support/resistance turning into future resistance/support - Previous support can turn into future resistance, this is where price will break through this support in a downtrend and the come back and retest this level ( as shown in the chart above) . This previous support is now resistance. This also applies the other way around. Support and resistance levels are points within the market where price will pivot. There are also levels in the market where price will gain momentum before continuing a move. You always want to plot these levels on the higher time frames as the levels on the higher time frames will hold more significance. i.e. support on the daily time frame will hold a lot significance than support on the 1hr time frame. Hit that follow button for more stuff to come..
Education
by Malika_Analysis
A Renko Strategy for Trading - Part 8This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they assume all risks for their own positions and accounts. www.investopedia.com Chart setup : (Part 1) Double Exponential Moving Average (DEMA) 12 black line Double Exponential Moving Average (DEMA) 20 red line Parabolic SAR (PSAR) 0.09/0.09/.23 blue circles Simple Moving Average (SA) 20 blue line (Part 2) Stochastics 5, 3, 3 with boundaries 80/20 dark blue/light blue Stochastics 50, 3, 3 with boundaries 55/45 red Overlay these two on one indicator. Refer to 'Part 2' as to how to do this (Part 3) True Strength Indicator (TSI) 14/4/4 dark blue/ red Directional Movement Indicator DMI 14/14 ADX-dark green, +DI-dark blue, -DI-red Renko Chart Settings Crude Oil (TVC:USOil): renko/traditional/blksize .05/.10/.25 Natural Gas (ngas): renko/traditional/blksize .005/.010/.025 Soybeans/Wheat/Corn (soybnusd/wheatusd/cornusd): can use the ngas setup S&P 500 (spx500usd): renko/traditional/blksize 2.5/5.0/12.5 Euros (EURUSD): renko/traditional/blksize .0005/.0010/.0025
FX:NGASEducation
by mxb1961
A Renko Strategy for Trading - Part 7 Refactor/RefinementThis is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they assume all risks for their own positions and accounts. (Part 1) Double Exponential Moving Average (DEMA) 12 black line Double Exponential Moving Average (DEMA) 20 red line Parabolic SAR (PSAR) 0.09/0.09/.23 blue circles Simple Moving Average (SA) 20 blue line (Part 2) Stochastics 5, 3, 3 with boundaries 80/20 dark blue/light blue Stochastics 50, 3, 3 with boundaries 55/45 red Overlay these two on one indicator. Refer to 'Part 2' as to how to do this (Part 3) True Strength Indicator (TSI) 14/4/4 dark blue/ red Directional Movement Indicator DMI 14/14 ADX-dark green, +DI-dark blue, -DI-red
FX:USOILEducation
by mxb1961
A Renko Strategy for Trading - Part 5This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they assume all risks for their own positions and accounts. Chart setup: (Part 1) Double Exponential Moving Average (DEMA) 12 black line Double Exponential Moving Average (DEMA) 20 red line Parabolic SAR (PSAR) 0.09/0.09/.23 blue circles Simple Moving Average (SA) 20 blue line (Part 2) Stochastics 5, 3, 3 with boundaries 80/20 dark blue/light blue Stochastics 50, 3, 3 with boundaries 55/45 red Overlay these two on one indicator. Refer to 'Part 2' as to how to do this (Part 3) True Strength Indicator (TSI) 14/4/4 dark blue/ red Directional Movement Indicator DMI 14/14 ADX-dark green, +DI-dark blue, -DI-red
FX:USOILEducation
by mxb1961
US Oil: A big challengeUS Oil presents some serious challenges for those looking to short this market. This analysis is time frame dependent. Which way you might want to go depends entirely on trends in respective time frames. DAILY PICTURE 1. On the daily time frame this is very much a bull market. We can see that in the ATR (amber trendline) and the green Guppy investor zone. 2. On the daily price has made a temporary retreat to near ATR support, in a parabolic limb of the curve. 3. If anything this is usually a place to go long (on this time frame). 4H - FOUR HOURLY PICTURE 1. There is an early trend switch for the south. 2. This is seen on the ATR and SQM (Squeeze momentum). 3. But it isn't as yet a Grade A or Grade B switch. DECISION-MAKING (Speculative issues) 1. Finding appropriate entry point on a chosen time frame. 2. For a limited hit going long (north) on the 4H, taking a reasonable stop loss and taking only about a 26 or 38.2 Fib retracement of the most recent daily candle. 3. For a limited hit going short (south) on the 4H, a larger stop-loss is required. 4. Possibly going long on the daily and hold out. As usual before starting any trade on any time frame common things need to be decided: 1. Time frame one will stick to (1D, 4H or something else). 2. Entry position. 3. Stop-loss. 4. Exit position. Stop-losses on 4H and less need to cater for short spikes in price. So simply saying 2.5 times ATR may not be enough. Based on experience only of US Oil, I can expect a recoil up on the 4H but of course, I can't predict how much. As mentioned above I can expect at least a 26% Fib on the length of the last daily candle. Expectation is not prediction. Declaration : This post is for educational purposes only. Nothing here is intended as advice. Your losses are your own should you still construe this as advice, act on it, and lose money.
TVC:USOILEducation
by Captain_Walker
Pattern Analysis; incorporating timeframes (USOIL)Understanding trends within a pattern gives analysts the ability to better understand sentiment and directional pressure. In this example, pattern extremities were highlighted. Then, on a lower timeframe, trends within said pattern drawn. Overlaying timeframes is a necessary part of a complete analysis, and a complete commodity analysis can help piece together economic factors affecting commodity-sensitive currencies such as CAD and AUD.
TVC:USOILEducation
by TRADINGTRADER22222
2
Ben Wright's 3 Essential Trading Routines!! MUST SEE!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Below are 3 essential trading routines that i follow on a daily basis. This has been a critical component to my success. Morning Routine 1. Meditation (10 Mins) 2. Gratitude 3. Trading Affirmations (2 Mins) • I am a successful trader • I have a very strict risk management plan • I use a trading journal • I am unemotional about profits or losses • I am patient and let high probability trades present themselves to me • I am happy to take a profit and will not be greedy • I have an edge and I trade it effectively and decisively • Losses are a part of my trading • I am relaxed and confident about my trading at all times • I do whatever is necessary to win at trading • Discipline means I follow my trading rules and manage my risk • I am highly focused • I am in total control at all times with my trading • I am a master trader • I am not stressed about relying on trading money to provide for the family 4. Visualization (Goals & Perfect Trading Day) (10 Mins) 5. Priming – (30 – 60 Sec cold shower) Shocks your body system and activates endorphins 6. Motivation & Stretching (10 Mins) Pre-Trading Routine 1. 3 Deep breaths 2. Gratitude Night Routine 1. Read (30 Mins) 2. Affirmations (2 Mins) 3. Gratitude 4. Visualization (Goals & Perfect Trading Day) (10 Mins) Happy trading :) Follow your Trading plan, remained disciplined and keep learning !!
FX_IDC:USDWTIEducation
by SMPTrader
5
Technical Analysis 101!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Technical Analysis 101!! Interpreting the candlestick This type of chart is an extension of the bar chart as discussed and is actively utilised by the investors in China for more than 500 years of time period. It helps in providing the information regarding open, close, low and high in the dimensional format. It can be seen that the vertical axis of the chart helps in providing information on the prices of the FOREX whereas the horizontal axis represents the time period. The white candles are the representation of the advances of the currency and the black candles, on the other hand, represents the decline in the value of the FOREX. Moreover, the body denotes the thick portion of the candle, and the vertical line represents the wick. This chart helps the investor to forecast the future price movement of the FOREX. b) Charting systems In the mind of a few people, charts are the exemplary image of the trader’s speciality. The experienced eye can make ups and down. Charting is a questionable piece of the fund. Future research is probably going to reveal things about outlining that would amaze people today. All things considered, even individuals who eagerly restrict the training are ought to be acquainted with the essential techniques of charting. Follow your Trading plan, Remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
FX_IDC:USDWTIEducation
by SMPTrader
Creating your own Trading Strategy!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Creating your own Trading Strategy!! Below is a quick run down of things to think about when creating your own trading strategy 1. How much time during the day do you have to devote to trading? .................................................................................. 2. How much money do you need to live on each year and how much of that must come out of trading profits? ...................................................................................................................................... 3. How many distractions can you expect during the day/night? ..................................................................... 4. Specify the markets and times of the day you will trade? ......................................................................... 5. Do I want to trade multiple systems? ............................................... 6. Will you short sell? Or go long? ........................................ 7.Where will you place your Entry/Stop Loss and Target Line? ........................................................................... Follow your Trading plan, Remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
FX_IDC:USDWTIEducation
by SMPTrader
Elements of a Successful Trading Plan 102SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Elements of a Successful Trading Plan 102 2. Risk Level Managing a risk in trading is essential if a person wishes to make profitable investments. As a trader, one cannot control the market but he/ she do have the capacity to change what can be done as circumstances require. They need to adapt the changes as the market conditions evolve. A person does not take a position and hopes the market acts in your favour. Managing trading risk will be a key factor in an individual’s long term success as a trader. As the market, structure changes, the risk profile of trade will also change. Risk will vary at different points of a trade and needs to be managed in a manner, which is consistent with the individual style of each trader. This will be dependent on each trader’s personality and time frame. Assessing market conditions can be categorised into core areas where one need to consider the risk profile in his/ her trade. This risk needs to be assessed also in line with your trading objectives. Active traders will tend to add and take off risk for each new swing in the market, whilst passive investors will ride minor retracements looking to achieve larger reward targets. Following are some areas where risk can be managed throughout a trade as well as what to look out for at these points that indicate that the risk is increasing; • At Entry: Stop loss risk. • Distance from Moving Average: Price exhaustion risk. • “M” Pattern: Price retest failure risk. • Candlestick Tails and Shadows: Price rejection risk. • Period Close: Price rejection risk. • Reducing Range: Trend momentum risk. • Support or Resistance: Price level failure risk. It is necessary that how an individual plan to address the risk management needs to be included as a critical part of the trading plan in order to protect the invested capital and preserve the profits. One need to have strategies in place for how he will deal with the different areas throughout a trade and how he will know when risk is increasing to a point where action needs to be taken either to protect profits or capital. Follow your trading plan, Remain disciplined and keep learning :) More elements will follow... Like, share, Comment and follow us to keep updated on our professional trading ideas and education :)
FX_IDC:USDWTIEducation
by SMPTrader
A 3 Day Trend IndicatorA 3 day chart is very useful in terms of being able to see a major trend reversal. It eliminates the noise of daily or lower timeframe charts and shows the change in trend faster than the higher timeframes such as the weekly and monthly. Keep track of the candles and look for a higher high and higher low candle for the first signal. The USOIL chart above shows a sequence of 3 day candles that have lower lows and lower highs for the past 8 or more candles, clearly showing that the major trend is down. Short risk on oil is out of the question as long as there's no higher high and higher low 3 day candle. As soon as there's one, at least a minor change in trend can be anticipated and traders are likely to switch to short risk.
TVC:USOILEducation
by Zoen_Trieste
3
RV Simplifed - Krümel’s VoodooRV Simplified: I get this question all the time, and even though the concept is simple, many people have a hard time getting their heads around it. Here is snapshot of above at time of publish. Sept 19, 2018, 7:30am ET. As the above LIVE chart will not last more than a day.. accurately. ——————- Q- When DXY falls, WTI follows right? A- No.. they fall and rise at different rates, on some Timeframes they will be inverted (say 10min) while on 4hr they will both trend in same direction. I look at the value of oil in Dollar , as well as other currencies. But oil is priced in dollars.. so it will always gravitate to that level. This is based on the amount of volumes being traded in other currencies. (I believe) . Q- So having a weaker pound, yen and eur will equate to oil price going up as we get more dollars? right? A- Sure.. and vice verse.. Let’s say nobody trades oil for 1 hr. But during that time the Doller dropped by 10%! Those wanting to buy oil from you in EUR, would need to pay 10% more to keep you even, or you would need to sell at 10% loss. BUT -If I’m buying from you and in dollar. Price doesn’t change as we are both using dollars. - Extreme example. So the price of oil is based on what buyer is willing to pay.. if those in U.K. (above example) are willing to pay the 10%, but most of the buyers are in US. The price will only go up buy the amount of volume those U.K. buyers represent. Now do that for EUR, YEN, GBP, and Doller.. that’s RV! Lastly - I treat SPX like a currency (normalized to dollar) SPX is a great scale on daily movement. Not always coupled but use 2 day range to set scale. I think this has to do with the ETFs and truly they are the volume in PaperOil.
TVC:USOILEducation
by BigEz
1