Hello, hope you be doing great!, regarding the lines, let me share:
1. The s/r, weak stop and reverse, pivot reverse, top of trading range, major s/r line, bottom of trading range, pivot reverse, weak stop and reverse and ultimate s/r they are nothing else but the Murrey Math Lines, for me the most important levels on Murrey are: Major Support/Resistance 4/8 and 8/8 (safe to trade and always in the money), Pivot reverse 2/8 and 6/8, Extreme OB +2/8 and Extreme OS-2/8.
This for me are most reliable levels, although all levels can be traded.
2. The Go Long, Breakout Up Level, Resistance/Support, Support/Resistance, Breakout Down Level, Go Short Level
this levels are camarilla levels, H4,H3,L3,L4 and other that is calculated by the surefirething website that i don't really know how they calculate them but surely they work. i use all of this altogether with my own strategy to make the most profitable decision like today the market went from one os this levels, 91.79 all the way up to my last (safe) level 93.75 that is 196 ticks move or $1960 on just one contract you do the math for 5 or 10 contracts depending your account size and protecting capital strategy....
I trade based on vance's CL thread but found a few bits of this pretty interesting.
Can you explain a bit more on the 2 swings and the intersecting vertical line as a pinpoint entry method?
I like measured/math things especially in the Crude.
Here, i just have compiled some of the screenshots taken on my screen for some days of the past month of April using
the Smart Levels how the price interact with this levels is just amazing to me, you can confirm this levels using the Camarilla Pivots indicator using only the H4, H3, L3, L4 levels, you could find a difference by a tick or two.
For me is just "profitable" i have no other word to say it,
The levels keep doing a great job, also have found that at 11:00 AM EST, (I´M TWO HOURS BEHIND EST TIME, THAT IS WHY MY CHART SAYS 9:00 AM) half hour before and half hour after there is always a reversal that pays off, i have found that in a 85% of the time this is valid!!,
So i take 10:30 AM price and take note of it, when price arrives at 11:00 AM i wait till 11:30 if price is near a trading level for me, i take the trade waiting a reversal from original direction, in other words counter trend..
**This could be a bit risky** but it´s worth about 30-40 ticks.
I just closed my first trade of the day, using the Smart level that i call, and momentum, the 123 breakout rule was involved also, there is an explanation in the image.
Hi, I tested it for several weeks, the idea works and the strategy per se works, I don't use it anymore, since volatility can harm you a lot, it works only if you have a very large account, and you don't use stop loss, which for me is too much risk! I have found that the best opportunities, when a news is released, come when the market has defined a direction, but when you have direction I don't need JOBB to get in, I use my own method,
Thank you Dennis,
so before trying the software I will think over it a bit longer, also considering that it is not such an immediate process to execute: I should open an ew account (now I have IB), I should need to rent a very fast computer in Chicago, which implies also the extra cost of internet with a static ip over here in Italy, I should purchase Ninjatrader, then go through its leaning curve, ect....
Maybe it would be better to use JOBB on underlyings less volatile than oil?
Regarding your method, which I suppose you apply mainly to crude oil, may I learn from you something about it on this forum?
Grazie. Ciao. GT.
HI, I have a very good friend in Bergamo I was in Italy this past year, So welcome!
I think the best thing is first, identify what type of trader are you!, if JOBB fits your trading, and if you are disciplined, I guess you will do just fine!,
regarding my method, you are very welcome, I have two journals that you can check, and I just opened my method journal in the elite section,
Bracket trading is only good on certain news events and certain markets in my experience though you can read uncertainty before a news event and in those case the prices can do anything. I wouldn't trade this on NFP on GC or ES. But perhaps on smaller events maybe would work on Gas/oil inventories. I'm going to try this, I'll feedback with review I a few weeks.
New to CL trading after a few yrs trading ES. Going to focus on CL and Silver or Gold. Really enjoyed reading through all of your charts and trying to read through alot the market profile stuff this weekend. Thanks again.
I'm new to CL; just 4 trades small swing goal, 3 winners, 1 looser. This instrument its been very difficult for me, it seems to be a bit crazy. Also has special features; special drivers, little liquid, slow but violent breakouts...
Absolutely BRILLIANT INDICATOR!! I've been using another very good proprietary divergence indicator from a traderoom that I can't name, but it doesn't work with VOL the way this one does. Use this one for pullbacks in a trend or for range trading.
It just needs an ALERT function to make it perfect - if JD or any programmers would like to do that, it would be awesome!!
@JDNeeman, you could have sold this indicator but you have provided it for free here. FatTails could not have done better (sorry FatTails).
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dont believe anything you hear and only half of what you see