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Hello everyone, been away from trading for years and looking to hone a method on CL..I was always intrigued by holy grail 2 and a thread by Gary from Dallas that were based on price action bars and simplicity. These threads have dies and indis all nt8. There are a ton of expensive vendors like obsidian and similar, but I am confident I can find what I need in this community. So, I am having trouble finding a current thread with that type criteria…can anyone point me to one? Thanks.
This thread has a number of setups dating all the way back to 2010 (NinjaTrader 6.5). I was in my experimental / learning phase (and in some respects, still am!)
Many things have changed since then. Best to scroll down to the last page in the thread …
Or contact Wizard directly?
But as far as I know it all may be in NT7.
Hopefully will give you starting point..
Cheers!
Apologies for an off-topic and an unsolicited advice, but have you considered getting rid of the magic indicators and using something “generic”? I've been using simple things for trading the oil:
Look what the dollar is doing, the weaker the dollar, the stronger the oil
Check the treasury yields, are they raising or decreasing?
Check the gold price
Check if the CL price is in the opposite “corner” than it should be concerning the points above
Finally, employ an order flow to open a trade, look for trapped traders or other order flow patterns in price extremes.
It's maybe not what you are looking for, but it is worth taking a look. IMO, these are the most simple things you need to trade oil.
There are a lot of people who put up stuff on oil trading on X. The problem is it trades on fundamentals, news and technical with little guys, hedge funds and enormous trading houses. Best to remember you are the bottom of the food chain, like an artic Krill, the hedge funds are seals and the trading houses are hungry whales.
The tanker crowd will let you know when the whales see a low. They rent VLCCs (Very Large Crude Carriers) as floating storage. Occasionally they will trap the hedge funds and blow them up as well, by causing some amazing short squeezing.
Morad (FuturesTrader71) has been trading crude a lot. He usually has a couple of minute review of the chart on his free pre market you tube show.
go to ypu tube and search for FT71
