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Oil Trading Chart Blog Update Nov 15. Crude Oil FX: $USOIL $WTI ($UWTI, $DWTI, $USO, $UCO, $CL_F)

November 15, 2016November 25, 2016 Epic the AlgoCrude Oil Trading Algorithm (EPIC)$CL_F, $UCO, $USO, Algorithm, Charts, Chat Room, Crude Oil FX: $USOIL $WTI ($UWTI, DWTI, Indicators, Stocks, Trading, Wall Street1 Comment

Crude Oil FX: $USOIL $WTI ($UWTI, $DWTI, $USO, $UCO, $CL_F)

November 15, 2016 EPIC the Oil Algo Oil Report.

Welcome to my new FX: $USOIL $WTI oil trade report. These reports will become more and more detailed as the days and weeks go forward.

How My Algorithm Works and Availability:

I am an algorithm in development. My math is based on traditional indicators (many – up to fifty at any given time) and simple math calculations relating to price, volume, Fibonacci, simple pivots and other factors. I do not yet have AI or Geo integration – only math. Below you will find my simplified view of levels that can be used on a traditional chart to advance a trader’s edge (both intra-day and as a swing trader). My algorithmic charting is going to developer coding phase early 2017 for our trader’s dashboard program. I am not an automated bot or high frequency type algorithm. Please review about my algorithm process and about my algorithm story. This charting is free to the public until Dec 1, 2016 and after Dec 1, 2016 will only be made available to subscribers here. Below you will find the “basics” and commencing Dec 1, 2016 my subscribers will have access to all the information I use and all the advanced charting I produce on an intra-day basis.

At time of writing FX $USOIL $WTI is trading at 44.78 (7:09 AM ET Nov 15, 2016). Some thoughts…

Overview

I have not updated and posted new alpha algo targets (red circles on charts) and alpha algo trendlines (red dotted lines on charts) because crude oil has confirmed my previous posts warning of a time / price cylce termination and change in price direction. See my Twitter feed for posts on this subject.

My last blog post explained what to look for in this possible new crude oil uptrend in price – please review it (there is a link in this article below).

In recent trading the uptrend has been confirmed by breaching the 100 day on the 1 hour and signifcant diagonal trendline resistance and horizontal resistance.

https://twitter.com/EPICtheAlgo/status/798415920095985665

https://twitter.com/EPICtheAlgo/status/798417016390582272

https://twitter.com/EPICtheAlgo/status/798412093275930625

https://twitter.com/EPICtheAlgo/status/798486516422963203

https://twitter.com/EPICtheAlgo/status/798493850977402880

The only step left in ABSOLUTE CONFIRMATION for my algorithm is the test of time and price at Tuesday 4:30 PM, Wednesday 10:30 AM and Friday at 1:00 PM (all eastern).

Within 72 hours I will begin posting updated algo targets and trendlines to my feed.

Diagonal Trend Lines (Blue) – Price

Thicker lines are more important (typically proven through previous time / price cycles).

There is a diagonal trendline at 45.61 intra day that runs above the current price (in blue with light blue arrow pointing at it) – it is a real important TL line (thick) because it extends from previous time / price cycles.

Resistance, Trendline, $USOIL, #OIL, $WTI — Overhead resistance. Diagonal Trendline (blue). Crude algo intra work sheet 657 AM ET Nov 15, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo

Why is this important? This is important because when crude oil trades in upward moment if it breaches resistance above a diagonal trendline it will almost always go to the next diagonal trendline before failing – when it fails at a diagonal trendline it then continues process back down or consolidates in a range. The opposite is true on it’s way down (see my previous post showing this up and down in trend on chart). THIS IS VERY IMPORTANT.

I have detailed (in blue arrows) the overhead trendline resistance points intra for you (blue diagonal lines) on an intra-day basis below:

Understanding how price reacts to those diagonal trendlines is critical. Please refer to my last oil trading blog post here explaining how these diagonal trendlines affect the trading price of crude oil.

You also have a diagonal trendline below intra-day at 42.70.

You also have various horizontal trendline supports and resistance on this chart (purple), but as it trades intra-day none are significantly strong. The thicker they are the stronger they are (extend back to previous time price cycles)

Price action at diagonal trend-line resistance determines another leg up or establishes resistance.

Pivots and Fibonacci

The next set of indicators my algorithm use are pivots and Fibonacci, I will introduce these to these posts over the next few days.

Alpha Algo Targets, Algo Trend-lines, Algo Timing

Algo targets are the red circles – they correspond (at these pictured) with important times each week in oil reporting land. Tuesday 4:30 PM, Wednesday 10:30 AM and Friday at 1:00 PM. The red dotted diagonal lines are the algo trend-lines. And the vertical dotted (red or green) are marking the important times each week. You will find that the price of crude will hit one of the alpha algo targets about 90% of the time. Understanding how the price of crude reacts to the algos and why they move from target to target is critical for intra-day and swing trading oil. We will cover this in much more detail in the trading room and we will endeavor to start posting video blogs on You Tube etc soon for swing traders that work during regular trading hours.

Also… we will cover how to establish algo trend-lines and price targets future forward (as you have seen me do on my Twitter feed for some time now).

Conclusion

As it applies to my algorithm, crude is now in an uptrend and will be further confirmed this morning at 10:30, tomorrow at 4:30 PM and last Friday at 13:00.

You can expect new alpha algo targets for those times and alpha algo trendlines over the next 72 hours from my algorithm

That is a good place to leave it for now – we will review details of the above in the trading room and when time allows we will segment for our swing traders (and publish) videos of the work we do in the trading room.

We will also cover more indicators (including intra-algo trading quadrants, traditional pivots, Fib and more) soon!

See you in the live trade room and if not stay tuned for our videos recapping what happens in the room!

EPIC the Oil Algo

Article Topics: Trading, Stocks, Wall Street, Chat Room, Algorithm, Charts, Indicators, Crude Oil FX: $USOIL $WTI ($UWTI, $DWTI, $USO, $UCO, $CL_F

Oil Trading Chart Update. Crude Oil FX: $USOIL $WTI ($UWTI, $DWTI, $USO, $UCO, $CL_F)

November 13, 2016November 13, 2016 Epic the AlgoCrude Oil Trading Algorithm (EPIC)$CL_F, $UCO, $USO, $USOIL, $WTI, Algorithm, Charts, Chat Room, Crude, DWTI, EPIC, Indicators, Oil, Stocks, Trading, Wall Street2 Comments

Crude Oil FX: $USOIL $WTI ($UWTI, $DWTI, $USO, $UCO, $CL_F)

November 14, 2016 EPIC the Oil Algo Oil Report.

Welcome to my first real report. This will be my smallest least detailed. These reports will become more and more detailed as the days and weeks go forward.

How My Algorithm Works and Availability:

At time of writing FX $USOIL $WTI is trading at 43.32 (10:48 PM ET Nov 13, 2016). Some thoughts…

Diagonal Trend Lines (Blue) – Price

Thicker lines are more important (typically proven through previous time / price cycles).

There is a diagonal trendline at 43.11 intra day that runs just under the price (in blue with green arrow pointing at it) – it isn’t a real important TL line (thin) but a TL line nonetheless. Why is this important? Everytime the price has crossed one of these in recent trade (last few months) it means another leg down. Very important.

And there is another right below it (yellow arrow) at about 42.85. Watch them both.

Above, there is one at 45.68 intra day (light blue arrow) – important because price has been strongly rejected here.

Understanding how price reacts to those diagonal trendlines is critical.

So you have your most important diagonal trendline as resistance at 45.68 and trendline support at 42.85 / 43.11. And remember they are diagonal so they change intra.

https://twitter.com/EPICtheAlgo/status/798020749113970689

Horizontal Trend Lines (Purple) – Price

You have support horizontal trend lines at 43.33 and 43.03 from previous time / price cycles – which are important. Other noteables are at 42.81, 41.86, 39.04, 38.33.

Most noteable resistance over-head is at 45.78 – this is important.

For now (as price trades now) your important support is 43.03 / 43.33.

There are obviously more – that you can see real-time in our trading room intra-day or over time as a subscriber (if you cannot be in the trading room) you would learn how to use the charting on your own for various trading decisions.

https://twitter.com/EPICtheAlgo/status/798021520320663554

Moving Averages

There are many moving averages (and related disciplines – I mentioned I review around 50 indicators) that we will get in to over time… but the secret is to focus down on what currently is most affecting price so you can use it as a trading edge. It just happens that right now the 200 day on the 1 hr has become recently critical as resistance.

https://twitter.com/EPICtheAlgo/status/798022283566653440

Price Action

Price action at horizontal trend-line resistance determines another leg up or establishes resistance.

https://twitter.com/EPICtheAlgo/status/798025461435486208

You will notice in the bottom left hand corner that when price bounced off an alpha algo line (red dotted) and started to go up… that it sliced through those diagonal trend – lines (blue) with-out an issue – BUT when it did eventually become an issue (yellow arrows) then that established resistance and the price of oil started to trend down.

And further, every-time the price went below a diagonal trend-line (blue) it dropped faster than it otherwise was.

Alpha Algo Targets, Algo Trend-lines, Algo Timing

Also… we will cover how to establish algo trend-lines and price targets future forward (as you have seen me do on my Twitter feed for some time now).

https://twitter.com/EPICtheAlgo/status/798028843353260032

Conclusion

That seems to be a good place to leave it for now – we will review details of the above in the trading room and when time allows we will segment for our swing traders (and publish) videos of the work we do in the trading room.

We will also cover more indicators (including intra-algo trading quadrants, traditional pivots, Fib and more) soon!

See you in the room and if not stay tuned for our videos recapping what happens in the room!

EPIC the Oil Algo

Article Topics: Trading, Stocks, Wall Street, Chat Room, Algorithm, Charts, Indicators, Crude Oil FX: $USOIL $WTI ($UWTI, $DWTI, $USO, $UCO, $CL_F

Pre-Market Newsletter ($SPY, $VIX, Oil, $DXY, $JNUG, Gold, Silver, $UGAZ…more)

October 31, 2016 Curt MelonopolyTrading Plan$ATOS, $AUY, $BRCO, $CETX, $CL_F, $CNY, $DUST, $EWW, $FXY, $GDX, $GDXJ, $HMNY, $INTX, $JDST, $JNUG, $NTP, $NUGT, $NVCN, $SMK, $TWTR, $TZA, $USO, $USOIL, $UUP, $VXX, Algorithm, Chat Room, Crude, Daytrading, DWTI, DXY, Gold, Oil, SPY, Stockmarket, Stocks, Trading Plan, TVIX, US Dollar Index, UVXY, UWTI, Wall Street, XIV1 Comment

My Stock Trading Plan for November 1, 2016.

Good morning Wall Street traders! Trade them well!

On Watch: Momentum Follow-Through Stocks:

Looking for potential follow-through on $BRCO, $INTX, $HMNY, $NTP, $TWTR, $CETX, $NVCN, $ATOS, $AUY

I won’t explain in detail what I’m looking for in this forum (I’ll do that in that trade room for each that are considered as / if they are considered).

Monday’s momo:

$BRCO + 22%

$INTX +25%

$HMNY +7.14%

$NTP + 7.86%

$TWTR +1.64%

$CETX +5.26%

$NVCN +29.96%

$ATOS +21.05%

$AUY +4.09%

On Watch: Morning Momentum stocks TBD.

$SPY Set-up / Volatility $XIV $TVIX $UVXY $VXX

I think there is a set-up with $SPY… wait for volatility and play it – beyond that I’m not trading $SPY or related instruments because I believe the Fed is in there and has it pinned – period. Not enough width IMO.

$SPY, $TVIX, $XIV, $UVXY — Trading $SPY Volatility ($XIV, $TVIX, $UVXY, $VXX Etc)

$VIX – Volatility ($XIV, $TVIX, $UVXY, $VXX, etc)

My problem with $VIX is that I can’t take a trade this high in $UVXY etc. because I would want $VIX closer to 13 (but it may get away on me) and I can’t take a trade in $XIV etc because I don’t expect volatility to settle down before the election. So I’m watching very close between now and the election. I believe there will be daily opportunity here starting Wednesday at latest – there was lots of “insurance” buys Monday… so Tuesday may even open an opportunity.

$DXY US Dollar Index ($UUP) – $FXY Japanese Yen Trust, $CNY, $TZA, $SMK / $EWW

There is nothing broken in the US Dollar Index chart IMO. The continued targets I’ve previously posted stand unless conditions change.

$DXY US Dollar Index upside res 98.61, 98.78 (short term PT), 98.91, 99.17, 99.28, 99.64, 99.80

— Melonopoly (@curtmelonopoly) October 21, 2016

$FXY Japanese Yen Trust – Gold / Gold Miners – $DUST $JDST (Bear) / $NUGT $JNUG $GDX $GDXJ (Bull) / #Gold $GLD

If you’re thinking of taking a position in Gold Miner’s this is good to follow. Last night it started to turn around and miner’s ran Monday (so no surprise and should have been an easy trade – distracted lol) so watch it if it continues to rise 9/10 times miner’s will follow… I even watch it with Gold plays and even before I take a small cap Gold company or miner position.

$FXY, Yen — $FXY Japanese Yen Trust Oct 31 1121 PM

$TZA – 3x Small Cap Bear

Watch $DXY US Dollar Index – when it gets flight so does the small cap bear $TZA typically – it can be a great daytrade.

$SMK / $EWW (Mexico Capped ETF)

If you think Trump is going to win you want to short $EWW or play $SMK (however thinly traded).

Crude Oil: FX $USOIL $WTI | FXCM $USO $UWTI $DWTI $CL_F #OOTT #Algo

Crude algo intra work sheet 1042 PM ET Oct 31, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo

So crude had a significant downdraft Monday (OPEC / non OPEC couldn’t get it together I guess)… and ended up trading down to a diagonal trend-line (blue) from a previous time / price cycle and very near a horizontal price support (purple) and it appears that it will be heading for the nearest target EPIC the Oil Algo called. And to make matters worse (if you review a simple chart) the neckline support with oil has been breached (not that I give that much consideration).

https://twitter.com/EPICtheAlgo/status/792971435866226688

I was going to take a long position in $UWTI at end of day but didn’t and will strongly consider one in the morning.

Gold / Gold Miners – $DUST $JDST (Bear) / $NUGT $JNUG $GDX $GDXJ (Bull) / #Gold $GLD

Looking for entry $GLD at 114.00 / 115.00 area – but I don’t think I will get that before the election.

Gold at 1266.65 is still one level up from my target closer to 1177.00.

On Friday I wrote that I expected Gold Miner’s to run Monday and that occurred – I will be watching them close. There again wanted a pull-back I don’t think I’m going to get.

Going in to election I am very bullish most commodities. I am currently running charts on miner companies too.

$JNUG +7.42% Monday

$JUNG October 31 – Junior Gold Miner’s Bull 3x

Silver – $SLV, $USLV, $DSLV

My position with Silver ($SLV) is similar as that with Gold ($GLD) in that I am waiting for one more downdraft – here again I may not get that.

Natural Gas – $UGAZ $DGAZ

Here also, with natural gas I am looking for one level lower for an entry. It’s at 2.99 overnight and an ideal entry would be 2.86 (or at least a review there).

$UGAZ was off 9.42% on Monday so I will watch close Tuesday.

The Finviz stock screener is available here: http://finviz.com/.

Look forward to seeing you in the chat room. Visit www.compoundtrading.com and click on the link on the main page to enter the chat room.

Curtis

Tag Archives: Algorithm