CL Crude-nalysis - Commodities Futures Trading | futures io social day trading
futures io futures trading


CL Crude-nalysis
Updated: Views / Replies:21,084 / 227
Created: by indextrader7 Attachments:46

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Closed Thread
 46  
 
Thread Tools Search this Thread
 

CL Crude-nalysis

  #131 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


rmejia View Post
Interesting, thinkorswim data looks a bit different... now I can't trust it

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

lol

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #132 (permalink)
Elite Member
NY, NY/USA
 
Futures Experience: Advanced
Platform: Investor/RT and TT XT
Broker/Data: DTN IQFeed, Rthmic, TT-NET
Favorite Futures: Energy Futures
 
BTR411's Avatar
 
Posts: 222 since Mar 2013
Thanks: 196 given, 1,176 received


indextrader7 View Post
Regarding back-adjusted VS non-back-adjusted data:

1. Which do we think the masses are using?

2. Which do we think the big money is using?


I would SPECULATE that masses are using non-back-adjusted as it's easier to come by, and big money is using back-adjusted. I am going to start asking around. I wish I knew more big time traders. I know ONE and he is kinda shady.

If my memory serves correct, Bloomberg terminals by default use non-back adjusted data, but with the ability to create a continuous contract if needed. X_Trader is the same way.

With most of the custom in-house institutional software I have seen over the years (mostly hedge funds and several investment banks), the mix has been 50/50 depending on the type of trading. Since a good portion of the energy markets is not outright trading, but instead spreads, hedges, etc, and very contract specific.....thus defining the need, if any, for back data, adjusted or otherwise.

As far as the masses go, I agree whatever is easiest and cheapest to come by.

If you can keep your wits about you while all others are losing theirs, and blaming you....The world will be yours and everything in it, what's more, you'll be a man, my son. - Kipling

Last edited by BTR411; September 9th, 2014 at 10:10 PM. Reason: grammar
The following 5 users say Thank You to BTR411 for this post:
 
  #133 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received


Initially today I thought we may have formed an island reversal from yesterday into today, but we were able to trade down and fill the double gap zone, so that idea is out.

Still, if this overall bear move in crude was very healthy, we would not have traded back above 92.70/92.80 area at all once we opened below it on 9/8. Today, 9/9 we gapped back up above that level, negating the healthy/strong bear movement.

The recent low of 9/8 was nearly exactly a measured $4 move equal to last down leg from 8/11 to 8/19. So, we could have just seen some profit taking.

There is also the issue of back-adjusted and non-back-adjusted data giving is different pictures. Neither one is superior, just something to keep in mind that there isn't a unanimous view on long term market structure out there. That profit taking could also have been at the trendline @PandaWarrior presented to us. Heck, even long term new money longs there.

Ultimately, that 92.75 AREA is currently my line in the sand for medium-term bias. Longer term I have to remain short biased below 96.00 area.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

The following 5 users say Thank You to indextrader7 for this post:
 
  #134 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 913 since Feb 2013
Thanks: 2,069 given, 1,860 received


PandaWarrior View Post
Thought I'd throw this up for conversations sake. Short term trend is down, longer term trend is sideways. A possible break out to the short side is within reason as is a nice bounce from here back into the range.....

As always, trade at your own risk....


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I appreciate the thread and all the efforts of the participants.

I like your characterization of "short term" and "longer term"! If I read your chart correctly, those are weekly bars. As someone who uses 15 tick stops looking for 15-50 tick targets, I can verify that there's a lot of trading happening within those bars!

Happy trading!

The following user says Thank You to Tap In for this post:
 
  #135 (permalink)
Elite Member
NY, NY/USA
 
Futures Experience: Advanced
Platform: Investor/RT and TT XT
Broker/Data: DTN IQFeed, Rthmic, TT-NET
Favorite Futures: Energy Futures
 
BTR411's Avatar
 
Posts: 222 since Mar 2013
Thanks: 196 given, 1,176 received

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Picture perfect setup on crude with a weak retrace trying to work into yesterday's trading zone and above the previous day's VPOC, close and the previous weekly low. Previous day's low was right below.

'Set it and forget it' after that with price staying below the 20 for the move down....possibly close out the rest sometime this afternoon unless they want to bring it back up.

Price sitting at 200% of the measured AB move off the HOD.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

If you can keep your wits about you while all others are losing theirs, and blaming you....The world will be yours and everything in it, what's more, you'll be a man, my son. - Kipling

Last edited by BTR411; September 10th, 2014 at 12:28 PM. Reason: annotated chart
The following 6 users say Thank You to BTR411 for this post:
 
  #136 (permalink)
Elite Member
London, United Kingdom
 
Futures Experience: Intermediate
Platform: N/A
Broker/Data: Bloomberg
Favorite Futures: Energies
 
CobblersAwls's Avatar
 
Posts: 284 since Jul 2014
Thanks: 971 given, 363 received

There has been some great analysis and charts getting posted lately and I have a question:

What kind of techniques do you guys use for pinpointing your areas of interest? (Market Profile/Volume Profile/Price Action etc)
Are there any of you that incorporate the DOM into your trading?
Further to this, are there any of you just using the DOM and reading the order flow to trade CL?

Cheers,

Awls

 
  #137 (permalink)
Elite Member
NY, NY/USA
 
Futures Experience: Advanced
Platform: Investor/RT and TT XT
Broker/Data: DTN IQFeed, Rthmic, TT-NET
Favorite Futures: Energy Futures
 
BTR411's Avatar
 
Posts: 222 since Mar 2013
Thanks: 196 given, 1,176 received


CobblersAwls View Post
There has been some great analysis and charts getting posted lately and I have a question:

What kind of techniques do you guys use for pinpointing your areas of interest? (Market Profile/Volume Profile/Price Action etc)
Are there any of you that incorporate the DOM into your trading?
Further to this, are there any of you just using the DOM and reading the order flow to trade CL?

Cheers,

Awls

I just read the chart, let things unfold in front of me and go into the day with no directional bias whatsoever.

Areas of interest are the big pedigree price levels like the previous high, low, close, current open, and Globex high/low (broken into the Asia and London sessions).....and then the levels that are further out like previous week's H/L, opening price of the week, etc. Anything else like pivots or profile levels will add weight to a technical setup, but means little to me on it's own. Overall, the overnight H/L's and previous day HLC play the biggest role for me.

As far as the DOM, yes I will watch it at times looking for unusually larger orders at certain price levels and how those orders are managed in regard to the price movement.

If you can keep your wits about you while all others are losing theirs, and blaming you....The world will be yours and everything in it, what's more, you'll be a man, my son. - Kipling
The following 7 users say Thank You to BTR411 for this post:
 
  #138 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received


indextrader7 View Post
Ultimately, that 92.75 AREA is currently my line in the sand for medium-term bias. Longer term I have to remain short biased below 96.00 area.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


CobblersAwls View Post
There has been some great analysis and charts getting posted lately and I have a question:

What kind of techniques do you guys use for pinpointing your areas of interest? (Market Profile/Volume Profile/Price Action etc)
Are there any of you that incorporate the DOM into your trading?
Further to this, are there any of you just using the DOM and reading the order flow to trade CL?

Cheers,

Awls

I tend to have strong biases, such as the lines in the sand I have recently posted about. I'll continue to look to trade in the direction of that bias, until it's proven wrong. Then I'll happily look the other way. These are purely based on structure that price creates. I was taking shorts today since we were below my line in the sand.

I do not use a DOM at all. I've developed a feel for the tape if you will, but it's by watching price tick up and down and how fast or slow that is happening.

As you can see from @BTR411 response and my own, you're going to get entirely different answers to what people are using. In this case, you're getting answers from two good traders, so that's more than you could ever ask for on futures.io (formerly BMT). Everything works and nothing works, it all depends on you.

The following 3 users say Thank You to indextrader7 for this post:
 
  #139 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


CobblersAwls View Post
There has been some great analysis and charts getting posted lately and I have a question:

What kind of techniques do you guys use for pinpointing your areas of interest? (Market Profile/Volume Profile/Price Action etc)
Are there any of you that incorporate the DOM into your trading?
Further to this, are there any of you just using the DOM and reading the order flow to trade CL?

Cheers,

Awls

I use certain levels, a couple of moving averages and how price interacts around those levels and moving averages. I use the DOM for order entry as well as getting a feel of how the price is flowing in one direction or the other...its very useful in looking at how a break out is going to go....the pace either speeds up or not as it gets close to breaking out....sometimes you can get in early as price begins to accelerate.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 5 users say Thank You to PandaWarrior for this post:
 
  #140 (permalink)
Elite Member
London, United Kingdom
 
Futures Experience: Intermediate
Platform: N/A
Broker/Data: Bloomberg
Favorite Futures: Energies
 
CobblersAwls's Avatar
 
Posts: 284 since Jul 2014
Thanks: 971 given, 363 received



BTR411 View Post
I just read the chart, let things unfold in front of me and go into the day with no directional bias whatsoever.

Areas of interest are the big pedigree price levels like the previous high, low, close, current open, and Globex high/low (broken into the Asia and London sessions).....and then the levels that are further out like previous week's H/L, opening price of the week, etc. Anything else like pivots or profile levels will add weight to a technical setup, but means little to me on it's own. Overall, the overnight H/L's and previous day HLC play the biggest role for me.

As far as the DOM, yes I will watch it at times looking for unusually larger orders at certain price levels and how those orders are managed in regard to the price movement.


indextrader7 View Post
I tend to have strong biases, such as the lines in the sand I have recently posted about. I'll continue to look to trade in the direction of that bias, until it's proven wrong. Then I'll happily look the other way. These are purely based on structure that price creates. I was taking shorts today since we were below my line in the sand.

I do not use a DOM at all. I've developed a feel for the tape if you will, but it's by watching price tick up and down and how fast or slow that is happening.

As you can see from @BTR411 response and my own, you're going to get entirely different answers to what people are using. In this case, you're getting answers from two good traders, so that's more than you could ever ask for on futures.io (formerly BMT). Everything works and nothing works, it all depends on you.


PandaWarrior View Post
I use certain levels, a couple of moving averages and how price interacts around those levels and moving averages. I use the DOM for order entry as well as getting a feel of how the price is flowing in one direction or the other...its very useful in looking at how a break out is going to go....the pace either speeds up or not as it gets close to breaking out....sometimes you can get in early as price begins to accelerate.

Perfect, thanks for taking the time to answer. I'm always curious/interested in what approach people are taking and I think it's encouraging that there are so many different ways to trade as it enforces the theory that there is no right or wrong method, but more a right and wrong way to apply your method.

I'm re-building my method from the ground up so at this point cannot contribute that much, but I enjoy this thread and the discussions on it. Hopefully in the future I can contribute with some worthwhile analysis of my own.

The following 3 users say Thank You to CobblersAwls for this post:

Closed Thread



futures io > > > > CL Crude-nalysis

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Trading CL (Crude Oil futures) #2 Big Mike Commodities Futures Trading 95 March 18th, 2015 08:13 PM
Why crude oil (CL) trades mostly 1 contract? fyd49 Commodities Futures Trading 8 May 22nd, 2014 04:27 PM
Crude Oil (CL) Trading by goldenriver goldenriver Elite Trading Journals 52 March 12th, 2013 04:32 PM
Big Mike's CL (crude oil) journal Big Mike Trading Journals 60 May 25th, 2011 07:45 PM
Trading CL (Crude Oil Futures) tzachi Traders Hideout 145 September 4th, 2009 11:57 PM


All times are GMT -4. The time now is 07:09 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.16 seconds with 20 queries on phoenix via your IP 54.226.113.250