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I wanted to show you what i do to trade accordingly with the trend, you know the famous quote "the trend is your friend" so i have made a mix of price structure, price action and trend trading, the indicators i use (attached in image) let me know where the price is going and where is likely to reverse and continue the trend, basically i use WMA, HMA and EMA combination of periods.
I use
HMA @ 208
EMA @ 200
EMA @ 100
EMA @ 80
WMA @ 200
The heavy lines are WMA 200 and EMA 200 this for both side, Short and Long,
The Medium lines are EMA 80 and EMA 100
The Trigger or Magnet Line is HMA 208
Long Scenario.
If the EMA 100 is above EMA 200 a long trend is on track and confirmation of a lon trend comes when the EMA 200 crosses up the WMA 200.
Entry: Whwen price touch and reverse EMA 80 or EMA 100 and momentum (stochastics, MACD, etc) confirms a reverse.
Target: this could be your selection according to your management plan, or the HMA 208 the "magnet Line",
Broker: Thinkor Swim for Charts an Infinity Futures for Trading Dom
Trading: Oil
Posts: 54 since Jul 2012
Thanks Given: 449
Thanks Received: 48
J.D
Just finished reading your Journal and I think it is very interesting and informative and I am glad you are doing well. I have learned quite a bit and will spend the weekend digesting it all. I trade cude as well using trend lines and LOD and HOD lines among other things in trying to tame the monster as well. I do not use range charts but have started playing around with them on Think or Swim, could you tell me how many ticks to a range bar. I currently use Think or Swim and there range bars are different I think and I have been playing around with them after reading DaveL's journal and following his trades recently.
Baiscally I wanted to say thanks for being so open with your info and trading tactics and the studies you are using. It is great to not have to reinvent the wheel again. I will be following you to see what you are up to next and pass any info on if I can to help all of us to be successful with this monster we call Crude.
Thanks!!, itīs good to be here in this great forum, we all learn tons every day here, iīll keep posting since is a way for me to stay in track with my trading goals and discipline.
I wanted to share with you a note on Big Round Numbers (BRNīs) combining this with our normal trading structure and strategies, this could turn someone steady profits and great control on your personal trading, i have applied this to Crude but can be applied to any instrument you trade.
personally i use this on my eMini S&P trading. it is explosive!! and makes me feel secure on my daily trading, (altough because of my job i cannot trade every day as i would lke) but soon i will say "Full Time Trader" long road!!! (this is another topic ), but at the end i wanted to share this for you to trade and use it if works for you.
), but at the end i wanted to share this for you to trade and use it if works for you.