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-   -   WTI Crude Oil Trading (https://www.energyexch.com/thread/294030-wti-crude-oil-trading)

EventsTrader Nov 9, 2020 12:03pm | Post# 9001

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Very heavy volume on buying CL after the vaccine news hit the wires this morning. Click to Enlarge

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Hutch Nov 9, 2020 5:18pm | Post# 9002

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WTI went up $2.39 or a massive 6% with more than double the average ATR. The news that the Pfizer Covid-19 vaccine will most likely be available within the next 2 months means no lockdown but, instead, will lead to an economic upside and this will require more oil.
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EventsTrader Nov 10, 2020 2:04pm | Post# 9003

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Crude testing yesterday's highs: Click to Enlarge

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EventsTrader Nov 10, 2020 4:36pm | Post# 9004

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API data rocked crude: Click to Enlarge

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Hutch Nov 10, 2020 5:27pm | Post# 9005

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API data rocked crude: {image}
You are entirely right stating that crude rocks since WTI gained $1.96 or 5% today after registering a gain of 6% yesterday.
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EventsTrader Nov 11, 2020 3:44pm | Post# 9006

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Crude oil inventories will be a day later this week due to Veteran's Day. After the surprise draw in API (not that it's a good indicator), at least we know crude is susceptible to spiking on a bigger than expected draw.

After that vaccine news, crude has maintained most of its gains. Perhaps the hurricane in the gulf as also supported prices to an extent. Although currently at the lows of the day, it's still up considerably on the week. 30M chart (CL CME):Click to Enlarge

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Hutch Nov 11, 2020 5:21pm | Post# 9007

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WTI went down 37 today but it was up $1.27 to $42.95 before starting to go down. As you can see it was a lot easier to trade on a Renko 10 ticks chart than on an hourly chart.
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Hutch Nov 12, 2020 5:15pm | Post# 9008

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WTI had another losing day going down 47. On the other hand, even with an ATR 100 points lower than its 10-day average it was a good trading day.
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Hutch Nov 13, 2020 5:13pm | Post# 9009

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WTI had another losing day, the third in a row, going down 79 today. With an ATR less than half its 10-day average it was an atrocious trading day.
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impactnik Nov 15, 2020 12:17pm | Post# 9010

WTI went up $2.39 or a massive 6% with more than double the average ATR. The news that the Pfizer Covid-19 vaccine will most likely be available within the next 2 months means no lockdown but, instead, will lead to an economic upside and this will require more oil. {image}
Hi Hutch,

I would be glad if you could kindly share your indicators and template, please.
Thanks in anticipation

Hutch Nov 15, 2020 6:37pm | Post# 9011

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{quote} Hi Hutch, I would be glad if you could kindly share your indicators and template, please. Thanks in anticipation
Here are the EA, template and indicators.
Fx Bay Strategy.zip

impactnik Nov 16, 2020 11:50am | Post# 9012

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{quote} Here are the EA, template and indicators. {file}
Thanks a lot for sharing your files with me. A few quick questions, please.

1. My chart looks a bit different. I believe the Renko candles are missing (please see attached)
2. Which is the EA? I actually added every .ex4 files in the indicator folder
3. What does the brick number represent?
4. Could you also kindly share your specific entry and exit rules, please?

Thanks a million!Click to Enlarge

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Hutch Nov 16, 2020 4:25pm | Post# 9013

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{quote} Thanks a lot for sharing your files with me. A few quick questions, please. 1. My chart looks a bit different. I believe the Renko candles are missing (please see attached) 2. Which is the EA? I actually added every .ex4 files in the indicator folder 3. What does the brick number represent? 4. Could you also kindly share your specific entry and exit rules, please? Thanks a million!{image}
Your chart is a EURAUD D1 chart not a Renko chart. To get a Renko chart using the chart you posted you need to add the STS RenkoChart indicator to that chart. Using the indicator you need to put the Renko brick size on the first line. To get a 20 pips Renko chart you need to input the points as 200. On the base time frame input at the bottom of the indicator input tab you need to choose 1 day. After this is done you need to open the EURAUD offline Renko chart; it will have a time frame like 66, 67, etc. Once that chart is opened all you have to do is to apply the template to that chart and everything should be ok. Here is an example of the source chart and the Renko chart produced by the STS RenkoChart indicator.
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Hutch Nov 16, 2020 5:15pm | Post# 9014

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WTI had a nice day going up $1.36 today with good trading opportunities.
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mario83 Nov 16, 2020 7:35pm | Post# 9015

do you guys also have a feeling oil is overpriced now over the vaccine news?

Vaccine will get effective in Dec/Jan if it works at all. Currently a lot of countries across the globe introduce soft lockdowns and oil inventories build up.
Libya is almost at its full and i do believe price should drop. What do you guys think?

Kwame Freder Nov 17, 2020 9:42am | Post# 9016

The New York session is becoming one of the worse sessions to trade WTI . Hardly any significant moves just mostly erratic swings. The early Frankfurt and London sessions seem to be where they are making their moves

impactnik Nov 17, 2020 2:00pm | Post# 9017

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{quote} Your chart is a EURAUD D1 chart not a Renko chart. To get a Renko chart using the chart you posted you need to add the STS RenkoChart indicator to that chart. Using the indicator you need to put the Renko brick size on the first line. To get a 20 pips Renko chart you need to input the points as 200. On the base time frame input at the bottom of the indicator input tab you need to choose 1 day. After this is done you need to open the EURAUD offline Renko chart; it will have a time frame like 66, 67, etc. Once that chart is opened all you...
Thanks for your clear explanation. I got it fixed. It looks really interesting but I am totally new to this. So do kindly tell me how you use this.

1. Entry and exit rules
2. Significance of the brick value
3. Other things I need to know

You could also refer me to a good place to read up on the Renko system as a whole. Thanks

Just curious, how do you get M12 on MT4?
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Hutch Nov 17, 2020 5:15pm | Post# 9018

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WTI went down 9 but the below average ATR still produced a few good trades today.
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impactnik Nov 17, 2020 5:18pm | Post# 9019

{quote} Thanks for your clear explanation. I got it fixed. It looks really interesting but I am totally new to this. So do kindly tell me how you use this. 1. Entry and exit rules 2. Significance of the brick value 3. Other things I need to know You could also refer me to a good place to read up on the Renko system a whole. Thanks Just curious, how do you get M12 on MT4? {image}
So I already did some study on my previous questions and I do have answers to them now. like the brick value and the M12

But I do still need your strategy for using the system

renkotraders Nov 17, 2020 5:47pm | Post# 9020

WTI went down 9 but the below average ATR still produced a few good trades today. {image}
Hi Hutch I'm a big fan of your trading style and have spend a nearly a hole day reading your post lol and a few weeks trying do duplicate what you do. Can you start your own thread sharing your strategy and how you determine good signals from bad ones, maybe show winning and losing trades as you take them and explain your reasoning. cuz I've seen you trade almost everything lol. especially since you do use 1 repainting indicator and know how to read it but i tell you what my luck has not been the same with that one haha exiting trades to quickly and overeagerly jumping into new trades even with conformation from the macd and tried macd only but keep getting into crappy range and it just eats at my demo. I always thought every pair, stock, indices react differently but man your strategy with you as pilot just works on everything lol. also i dont really understand the reason behind infobox cuz I have not read that you really use it but it shows up in all your screenshots. I cant pm cuz of me being junior member so I've decided to interrupt this thread lol. I've been trying for 8years now and only manage to blow 2 live account lol. MASTER... SHOW US THE WAY... WE WILL BE MINIONS AND DO YOUR BIDDING...


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